According to the daily brief of Oxford Analytica, "Moody's recently downgraded El Salvador's foreign currency government bonds from Baa3, the lowest investment grade level, to Ba1, with a negative outlook. The ceiling for foreign-currency bank deposits also was cut from Baa3 to Ba1, with a negative outlook."
Could this be in part politically motivated? Other countries (the Dominican Republic comes to mind) are also experiencing problems but have not witnessed a change in their grade of their debt....
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