Ecuador eyes 'consensual reprofiling' as Fitch predicts default
Two days after saying it would take advantage of grace periods to delay coupon payments, Ecuador confirmed that it would begin negotiations with commercial and bilateral creditors around what it calls a “consensual reprofiling” of its outstanding liabilities.
The government has taken advantage of grace period clauses in its bond documentation to delay around $200m of coupon repayments while it hunts $4bn of funding from other sources.It said in a filing on Wednesday that it “expects to enter into conversations in the short term with commercial ...
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