* indicates monthly or quarterly data series
Select indicator
* indicates monthly or quarterly data series

Sovereign credit ratings in Ecuador: The table shows the history of sovereign credit ratings. Click on the following link to see the values of Sovereign credit ratings around the world.

Agency Rating Outlook Date
Moody's Caa3 Stable 2/2021
Fitch B- Stable 9/2020
Moody's Caa3 Negative 4/2020
Moody's Caa3 Negative 4/2020
Fitch RD Developing 4/2020
Fitch C Under Review 4/2020
Fitch C Under Review 4/2020
Standard & Poor's CCC- Negative 3/2020
Standard & Poor's CCC- Negative 3/2020
Fitch CC Developing 3/2020
Fitch CC Under Review 3/2020
Fitch B- Stable 9/2019
Fitch B- Stable 8/2019
Fitch B- Negative 1/2019
Moody's B3 Negative 12/2018
Fitch B- Stable 8/2018
Fitch B Negative 8/2017
Standard & Poor's B- Stable 6/2017
Moody's B3 Stable 11/2016
Fitch B Negative 8/2016
Fitch B Stable 7/2016
Fitch B Stable 10/2015
Standard & Poor's B Stable 8/2015
Moody's B3 Stable 12/2014
Fitch B Stable 10/2014
Standard & Poor's B+ Stable 8/2014
Fitch B Stable 6/2014
Fitch B Stable 6/2014
Fitch B Stable 10/2013
Standard & Poor's B Positive 8/2013
Standard & Poor's B Stable 6/2012
Fitch B- Stable 10/2011
Standard & Poor's B- Positive 8/2011
Fitch B- Stable 11/2010
Standard & Poor's B- Stable 8/2010
Moody's Caa3 Stable 9/2009
Fitch CCC Stable 9/2009
Standard & Poor's CCC+ Stable 6/2009
Standard & Poor's CCC- Negative watch 11/2008
Moody's Caa1 Under Review 11/2008
Fitch CCC Negative 11/2008
Moody's B3 Stable 3/2008
Standard & Poor's B- Stable 11/2007
Fitch CCC Stable 10/2007
Standard & Poor's CCC Negative 1/2007
Moody's Caa2 Negative 1/2007
Fitch CCC Negative 1/2007
Standard & Poor's CCC+ Stable 4/2006
Moody's Caa1 Positive 1/2006
Standard & Poor's CCC+ Stable 11/2005
Standard & Poor's CCC+ Stable 10/2005
Standard & Poor's CCC+ Negative watch 8/2005
Fitch B- Negative 8/2005
Standard & Poor's CCC+ Stable 6/2005
Standard & Poor's B- Negative watch 4/2005
Standard & Poor's B- Stable 1/2005
Fitch B- Stable 10/2004
Moody's Caa2 Stable 11/2003
Standard & Poor's CCC+ Stable 9/2003
Fitch CCC+ Stable 9/2003
Fitch CCC+ Positive 3/2003
Standard & Poor's CCC+ Positive 2/2003
Fitch CCC+ Stable 11/2002
Standard & Poor's CCC+ Stable 12/2001
Standard & Poor's CCC+ Negative 4/2001
Standard & Poor's B- Stable 8/2000
Standard & Poor's B- Stable 8/2000

Definition: S&P includes long-term ratings from the highest AAA to the lowest D rating. Moody’s includes long-term ratings from the highest Aaa to the lowest C. Fitch includes long-term ratings from the highest AAA to the lowest D rating. Scope includes long-term foreign-currency ratings from the highest AAA to the lowest D rating.

For all four international credit rating agencies, ratings are divided into two main groups based on the level of credit risk: investment grade for lower levels of credit risk and speculative grade for higher levels of credit risk. For S&P, Fitch and Scope, investment grade issues/issuers are those rated from BBB- and above, while those from BB+ and below are categorized as speculative grade. Moody’s denotes as investment grade issues/issuers as those rated from Baa3 and above, while ratings from Ba1 and below fall into the category of speculative grade.

All four agencies include modifiers into their generic alphabet-based ratings for particular ranges. Ratings from S&P, Fitch and Scope are modified with “+” or “-” from the range AA to CCC. Moody’s appends numerical modifiers from 1 to 3 to the generic rating classifications from Aa to Caa. 1 indicates standing in the higher end of the generic category, while 3 indicates ranking in the lower end. All modifiers denote relative status within major ratings categories.

Rating Outlooks indicate the direction the rating is likely to move over a one- to two-year period. In determining an outlook, consideration is given to any changes in fundamental business conditions. Credit Watch focuses on identifiable events that cause ratings to be placed under special surveillance.

Rating Outlooks/Watches for the four agencies are the following:

- Positive means that a rating may be raised
- Negative means that a rating may be lowered
- Stable means a rating is not likely to change
- When the fundamental trend has strong, conflicting elements of both positive and negative, the Outlook/Watch can be denoted as Developing (for Scope, a Stable Outlook would be assigned in this case).

Credit Watches do not include a Stable Watch because they are only event driven and denote higher probability of change in the rating. Credit Outlooks and Watches are mutually exclusive.
This site uses cookies.
Learn more here


OK