Ecuador: S & P cuts credit ranking of Andean country, oil prices sapping revenue

Bloomberg.com reported Ecuador’s credit rating was cut one level by Standard & Poor’s as falling oil prices sap government revenue and increasing political unrest limits officials’ ability to implement economic policies.

S&P lowered the country’s long-term sovereign rating to B, five levels below investment grade, from B+, the company said today in a statement. The outlook is stable, S&P said. Read Article

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