OREANDA-NEWS. March 23, 2015. Fitch Ratings has assigned a 'B' rating to Ecuador's USD750 million global bond issuance maturing March 24, 2020. The bonds have a coupon rate of 10.5%.

The proceeds of the bonds will be used to finance government programs and infrastructure projects, in accordance with Ecuador's Public Planning and Finance Code.

KEY RATING DRIVERS

The rating is in line with Ecuador's long-term foreign currency Issuer Default Rating (IDR) of 'B' with a Stable Outlook.

RATING SENSITIVITIES

The rating would be sensitive to any changes in Ecuador's long-term foreign currency Issuer Default Rating (IDR). Fitch affirmed Ecuador's long-term foreign currency IDR at 'B' with a Stable Outlook on October 16th, 2014.