Research Update: Ratings On The Cook Islands Affirmed At 'B+/B' On Sound Tourism Sector And Donor Support; Outlook Stable May 13
- Language: English
- Published: May 2013
- Region: Cook Islands
We have lowered our local and foreign currency ratings on the Cook Islands to 'B+'. The outlook on both ratings is stable. The lowering of the ratings reflect the implementation of our updated methodology and assumptions for rating sovereign governments with limited external data, which we published on Nov. 7, 2011. The stable outlook reflects our view of Cook Islands' improved political and institutional settings since the 2010 general election. The ratings remain constrained, however, by the country's weak political and institutional culture, data deficiencies largely on the external side, and a narrowly-based economy that is hampered by infrastructure shortcomings and heavy emigration. On Dec. 15, 2011, Standard & Poor's Rating Services lowered its long-term local and foreign currency sovereign...
Companies mentioned in this report are: Cook Islands
Action: Outlook: Stable
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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