Wednesday, 08 November 2023 04:35

S&P raises El Salvador's rating from CCC+ to B-

Written by Coralia Cuellar

Standard & Poor's (S&P Global Ratings) upgraded El Salvador's credit rating once again.

In a report shared this tuesday, the US firm raised the country's sovereign credit ratings to 'B-/B', after having maintained them at 'CCC+/C'.

In a television interview, the minister of Economy, María Luisa Hayem said that this is positive news for the country, as it shows the strength that exists in the fiscal and economic issues of El Salvador.

This is the second upgrade that the risk rating agency has given to the country, indicating that it is due to the good management of the country's short-term debt.

The official also indicates that this will allow finding financing at a lower cost to continue with the investment in the development works that the Government is carrying out, since there will be a better perception of the country's finances.

One of the direct benefits for the population would be the execution of some social benefit projects.



Translated by: A.M