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Outlook On Papua New Guinea Revised To Negative On Deteriorating Political Setting; 'B+/B' Rating Affirmed Jan 12
Standard & Poors, January 2012
Political settings in PNG have weakened following the detention and later release of the defense force chief. We are revising our outlook on the long-term sovereign credit rating of Papua New Guinea to negative from stable. We are also affirming our 'B+/B' sovereign credit rating on Papua New Guinea. MELBOURNE (Standard & Poor's) Jan. 27, 2012--Standard & Poor's Ratings Services today revised the outlook on the long-term sovereign credit rating on Papua New Guinea (PNG) to negative from stable. At the same time, Standard & Poor's has affirmed its 'B+' local and foreign currency long-term rating and 'B' short-term rating. The transfer and convertibility assessment remains 'BB'. The outlook change reflects the weakened political settings in PNG following the detention...
Companies mentioned in this report are: Papua New Guinea (Independent State of)
Action: Outlook: Negative
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
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Papua New Guinea (Independent State of)