The company cited a lack of access to bank accounts and customers' preference for cash payments as reasons.
The bitcoin and digital payments giant has entered Mexico as part of a regional growth strategy.
The downgrade reflects evidence of increased fiscal financing constraints amidst a steady deterioration of Ecuador's key metrics, including rapidly rising government debt and interest burden as well as weaker economic growth performance relative to the 'B' median.
Similar rules were issued in April for banks and other financial institutions.
A special commission will meet next week to advance Costa Rica's much needed fiscal reform package; however, as legislators rush to tack on amendments, the country's tourism industry urges more protection from the 13% VAT plan.
Santander México aims for 10% of the auto loan market by 2022 with the help of a digital strategy.
The former president is in jail, blocking his chance to be candidate.