Fitch upgrades Ecuador credit rating to B from B-minus
NEW YORK Oct 18 (Reuters) - Fitch Ratings on Friday upgraded Ecuador's sovereign foreign currency credit rating one notch to B from B-minus, citing "healthy" economic growth and monetary and financial stability underpinned by its dollarized economy.
The rating, still deep in the speculative grade category, has a stable outlook.
In addition to the dollarized economy providing an anchor for Ecuador, Fitch said there is a steady easing of external and fiscal financing risks.
The factors contributing to that easing of risks, Fitch said in a statement, are: "still favorable international oil prices, improved prospects in the oil sector and continued availability of bilateral financing from China and multilaterals."
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