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El Salvador’s Rating Downgraded By Fitch For Adopting Bitcoin As Legal Tender

El Salvador’s Rating Downgraded By Fitch For Adopting Bitcoin As Legal Tender


ZyCrypto
2022-02-10 16:46:52

Fitch Ratings, one of the “big three” credit rating agencies, has lowered El Salvador’s long-term issuer default rating (IDR). In a Wednesday report, Fitch pinned the nation’s debt repayment capacity at a mere CCC from the previous B-. The downgrade stems primarily from El Salvador’s big bitcoin bet. El Salvador’s Use Of Bitcoin As Legal […]


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