Moody’s Improves Ecuador Outlook

Moody’s Investors Service has improved the outlook on Ecuador’s Caa1 foreign-currency bond rating from stable to positive. Moody’s said it had improved the sovereign’s outlook as a result of better liquidity and debt ratios. It also commended the country’s fiscal management despite periods of political uncertainty and said that Ecuador’s debt levels were lower now relative to the years before the country’s default in 1999.