S&P raises long term ratings on Ecuador to B-plus

Wed Aug 20, 2014 6:25pm EDT

Aug 20 (Reuters) - Ratings agency Standard & Poor's on Wednesday raised its long-term sovereign credit ratings on the Republic of Ecuador to B-plus from B.

The ratings agency affirmed the B short-term issuer credit ratings on Ecuador and raised the transfer and convertibility (T&C) assessment to B-plus from B. (bit.ly/1rmWX5z)

"We raised the long-term ratings on Ecuador as a result of the government's greater fiscal flexibility, better external liquidity position, and the improving investment climate in the country." Standard & Poor's said in a statement.

The ratings agency said the outlook is stable. (Reporting by Tanvi Mehta in Bangalore; Editing by Leslie Adler)