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Research Update: Long-Term Ratings On The Cook Islands Lowered To 'B+' On Updated Rating Methodology; Outlook Is Stable Dec 11 Product Image

Research Update: Long-Term Ratings On The Cook Islands Lowered To 'B+' On Updated Rating Methodology; Outlook Is Stable Dec 11

  • Published: December 2011
  • Region: Cook Islands
  • Standard & Poors

Abstract
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: Downgraded
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 READ MORE >

Cook Islands

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