ֳ

Rating Action Commentary

ֳ Rates Dominican Republic's 2026 USD Bond 'B+'

Fri 22 Jan, 2016 - 4:37 PM ET

ֳ-New York-22 January 2016: ֳ has assigned a 'B+' rating to the Dominican Republic's USD1.0 billion bond maturing 2026. The bond has a coupon of 6.875%.

The proceeds are to partially finance the 2016 budget of the government.

KEY RATING DRIVERS

The bond rating is in line with the Dominican Republic's long-term foreign currency Issuer Default Rating (IDR) of 'B+'.

RATING SENSITIVITIES

The bond rating would be sensitive to any changes in the Dominican Republic's long-term foreign currency IDR.

On Dec. 1, 2015, ֳ affirmed the Dominican Republic's long-term foreign currency IDR at 'B+' and revised the Outlook to Positive.


Contact:

Primary Analyst
Kelli Bissett-Tom
Associate Director
ֳ, Inc.
33 Whitehall Street
New York, NY 10004
+1-212-908-0564

Secondary Analyst
Erich Arispe
Director
+1-212-908-9165

Committee Chairperson
Douglas Renwick
Senior Director
+44-20-3530-1045


Media Relations: Elizabeth Fogerty, New York, Tel: +1 (212) 908 0526, Email: elizabeth.fogerty@fitchratings.com.

Date of Relevant Rating Committee: Nov. 30, 2015

Additional information is available on

Applicable Criteria
Country Ceilings (pub. 20 Aug 2015)
Sovereign Rating Criteria (pub. 12 Aug 2014)

Additional Disclosures
Solicitation Status
Endorsement Policy


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PARTICIPATION STATUS

The rated entity (and/or its agents) or, in the case of structured finance, one or more of the transaction parties participated in the rating process except that the following issuer(s), if any, did not participate in the rating process, or provide additional information, beyond the issuer’s available public disclosure.

Solicitation Status

The ratings above were solicited and assigned or maintained at the request of the rated entity/issuer or a related third party. Any exceptions follow below.

ENDORSEMENT POLICY

ֳ's approach to ratings endorsement so that ratings produced outside the EU may be used by regulated entities within the EU for regulatory purposes, pursuant to the terms of the EU Regulation with respect to credit rating agencies, can be found on the EU Regulatory Disclosures page. The endorsement status of all International ratings is provided within the entity summary page for each rated entity and in the transaction detail pages for all structured finance transactions on the ֳ website. These disclosures are updated on a daily basis.