Rating_Action: Moody's affirms El Salvador's Caa3 ratings; outlook changed to stable 03Feb2023 New York, February 03, 2023 -- Moody's Investors Service ("Moody's") has today affirmed the ratings on the Government of El Salvador (El Salvador) Caa3 long-term...
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Rating_Action: Moody's affirms El Salvador's Caa3 ratings; outlook changed to stable 03Feb2023 New York, February 03, 2023 -- Moody's Investors Service ("Moody's") has today affirmed the ratings on the Government of El Salvador (El Salvador) Caa3 long-term foreign-currency issuer rating and the Caa3 rating for the government's long-term foreign-currency senior unsecured debt. Concurrently, Moody's also changed the outlook to stable from negative. The outlook change to stable from negative reflects Moody's view of a decreased risk of a credit event in the near term, following the distressed exchange in 2022 and the recent repayment of the 2023 international bond. The principal repayment schedule on external market debt has improved through 2025 and liquidity stress has eased in line with a narrowing of the fiscal deficit. The affirmation of the Caa3 rating reflects Moody's view that persistently high financing needs, a lack of access to international capital markets, low debt affordabil
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