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Article: Fitch Places Dominican Republic's 'B+' Rtg on Rating Watch Neg.
- Article from:
- Business Wire
- Article date:
- October 8, 2003
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Business Editors
NEW YORK--(BUSINESS WIRE)--Oct. 8, 2003
Fitch Ratings, the international rating agency, today placed the 'B+' rating on foreign and local currency obligations of the Dominican Republic on Rating Watch Negative.
The action reflects continued pressure on the sovereign's slim foreign exchange reserve position and concerns about the availability of multilateral funding over the coming year, given the government's recent decision to renationalize an electricity company as well as other potential contingent liabilities to the government, stemming from disputes in the electricity sector. Foreign exchange reserves have fallen to ...