Ecuador eyes 'consensual reprofiling' as Fitch predicts default

Ecuador, Quito, Palacio de Carondelet, presidential palace, president, Lenin Moreno, LatAm, 575
By Oliver West
26 Mar 2020

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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