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Article: Fitch Comments on Dominican Republic's Credit Outlook.
- Article from:
- Business Wire
- Article date:
- October 29, 2004
CopyrightCOPYRIGHT 2004 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- Fitch Ratings, the international rating agency, today commented on the Dominican Republic's credit outlook in light of the expected restructuring of external debt. The Dominican Republic is expected to restructure its external private debt to comply with the Paris Club's request of comparability of treatment as early as mid-November. The renegotiation of the sovereign's debt is likely to include US$1.1 billion in global bonds and US$500 million in brady bonds. The ratings on the Dominican Republic's foreign and local currency obligations are 'CCC+'. The ratings remain on Rating Watch Negative.
Fitch expects the government to seek a relatively ...