NEW YORK--(BUSINESS WIRE)--Fitch Ratings has assigned a 'B' rating to the Dominican Republic's USD1 billion global bond issuance maturing in April 2024. The bonds have a coupon rate of 5.875%.
The receipts from this issuance will be used to cover budgetary requirements in 2013.
KEY RATING DRIVERS
The rating is in line with The Dominican Republic's Long-term Foreign Currency Issuer Default Rating (IDR) of 'B', which has a Stable Outlook.
RATING SENSITIVITIES
The rating would be sensitive to any changes in the Dominican Republic's Long-term foreign currency IDR. Fitch affirmed Dominican Republic's ratings at 'B' and revised the Outlooks to Stable from Positive on Dec. 11 2012.
Additional information is available at 'www.fitchratings.com'.
Applicable Criteria and Related Research:
--'Sovereign Rating Methodology' (Aug. 13, 2012).
Applicable Criteria and Related Research
Sovereign Rating Methodology
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=685737
Additional Disclosure
Solicitation Status
http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=788612
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