Ecuador wins Moody’s upgrade despite oil price hit

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Ecuador wins Moody’s upgrade despite oil price hit

Rafael Correa, Ecuador
Ecuadorian President Rafael Correa (L) sings carols with a chorus during a Christmas event at Carondelet Palace, in Quito, Ecuador, on Dec. 18, 2014. (Xinhua/Santiago Armas) XINHUA /LANDOV | SANTIAGO ARMAS/LANDOV/Press Association Images

Ecuador, which has never made a principal payment on an international bond, has received an upgrade from Moody’s even as analysts warn that lower oil prices represent a threat to the country’s economy and credit rating.

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