Rating Actions in Foreign Currency on June 01, 2022 S&P Glob | Cbonds Global

Rating Actions in Foreign Currency on June 01, 2022

S&P Global Ratings downgraded El Salvador to 'CCC+' from 'B-' with the negative outlook.

Reasons: "Our 'CCC+' ratings on El Salvador are based on its fiscal and external debt vulnerabilities and its dependence on favorable economic conditions to meet its financial commitments. The government's high financing needs and heavy reliance on short-term domestic debt have exacerbated rollover risk amid narrowing financing options."S&P's press release.