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Benin (Republic of) Dec 11
Standard & Poors, Dec 2011
Abstract
A low level of economic development and limited economic diversification. Restricted fiscal flexibility due to pressing spending needs and a large and growing wage bill. A stable democracy and history of domestic stability. Low debt burden following debt relief under the Heavily Indebted Poor Countries and Multilateral Debt Relief initiatives. Standard & Poor's Ratings Services' ratings on the Republic of Benin are constrained Benin's per capita income, which, at US$712 in 2010, is lower than peers'. The ratings are further constrained by Benin's narrow economic base, sizable current account deficits, sensitivity to terms of trade fluctuations, and limited fiscal flexibility. The ratings are supported by Benin's low fiscal debt burden after it received debt relief from bilateral and multilateral creditors...
Companies mentioned in this report are: Benin (Republic of)
Action: Review
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: Full Analysis
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