|
|
 |
|
Viewing report
|
|
|
|
Botswana 'A-' Foreign Currency Rating Affirmed On Revised Methodology; Local Currency Rating Cut To 'A-'; Outlook Stable Nov 11
Standard & Poors, Nov 2011
Abstract
In our view, Botswana's fiscal balance sheet is still strong despite recent deterioration, its minerals-based economy is well managed, and it has a long track record of political stability. We are therefore affirming our foreign currency sovereign ratings on Botswana at 'A-/A-2'. Our new sovereign criteria put more weight on the exchange rate regime in determining local currency creditworthiness. We are therefore equalizing the local and foreign currency ratings because Botswana relies on a crawling peg and because the sovereign's monetary flexibility is limited, in our view. The stable outlook balances our view of the government's demonstrated commitment to prudent economic policies against the risks stemming from a narrow economic structure. LONDON (Standard & Poor's) Nov. 23, 2011-- Standard &...
Companies mentioned in this report are: Botswana (Republic of),Bank of Botswana
Action: Affirmed
Action: Downgraded
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
|
|
|
|
