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Article: Fitch Comments on Dominican Republic's Paris Club Agreement.
- Article from:
- Business Wire
- Article date:
- April 21, 2004
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Business Editors
NEW YORK--(BUSINESS WIRE)--April 21, 2004
Fitch Ratings, the international rating agency, today commented on the completion of negotiations between the Dominican Republic (DR) and the Paris Club to reschedule debt service. The resulting agreement is expected to reduce debt service due to Paris Club creditors from US$479 million to US$293 million this year. The ratings on the Dominican Republic's foreign and local currency obligations are 'CCC+'. The ratings remain on Rating Watch Negative.
The government projects external financing needs of close to US$1 billion in 2004, of which around US$700 million is covered by multilateral ...