Fitch Ratings Downgraded El Salvador's Position

in #elsalvador • 3 years ago

Fitch ratings el salvador.jpg

New York-based credit rating agency Fitch lowered the long-term Foreign Currency Issuer Default Rating (IDR) of El Salvador from B- to CCC.

According to Fitch, El Salvador's rating was lowered as a result of several factors, including the weakening of institutions, concentration of power in the presidency, and the adoption of BTC as a legal tender.

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Fitch Ratings Downgraded El Salvador's Position

#bitcoin #ratings
3 years ago in #elsalvador by
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