OREANDA-NEWS. Fitch Ratings has assigned a 'B' rating to Ecuador's USD1 billion 10.75% notes maturing in 2022.

The proceeds from this issuance will be used for general budgetary financing purposes.

KEY RATING DRIVERS

The bond rating is in line with Ecuador's Long-Term Foreign Currency Issuer Default Rating (IDR) of 'B'.

RATING SENSITIVITIES

The bond rating would be sensitive to any changes in the Ecuador's Long-Term Foreign Currency IDR.

On Oct. 2, 2015, Fitch affirmed Ecuador's Long-Term Foreign Currency IDR at 'B' and maintained the Stable Outlook.