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The report shared this friday highlights that an "event of default is no longer probable", according to the revisions made by the entity based on the actions taken by the Government of President Nayib Bukele and the responsibility to honor payment commitments.
"The "CCC+" rating; of El Salvador reflects fiscal and external liquidity positions that have improved relative to Fitch's previous expectations", the document emphasizes.
El Salvador has managed to stand out internationally due to strong security results and solid tax collection, elements that the rating agency considers will drive fiscal consolidation and a reduction in debt levels.
Translated by: A.M