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(Adds comment from S&P Global, updates prices)
LONDON/NEW YORK, April 12 (Reuters) - Ecuador’s government bonds rallied on Monday, with some hitting their highest-ever level after banker Guillermo Lasso defied the polls and won a presidential election on promises to revive the economy.
Lasso took 52% of the vote in a runoff following a campaign that pitted free-market economics against the social welfare plans of economist Andres Arauz.
Ecuador’s recently restructured bonds rose sharply, with July 2035 paper up 15 cents at 63.3 cents on the dollar, near its record high, and the July 2030 bond up nearly 18 cents to 77.5 cents on the dollar, its highest bid since trading started in September, according to MarketAxess and Refinitiv data.