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Outlook On Papua New Guinea Revised To Negative On Deteriorating Political Setting; 'B+/B' Rating Affirmed Jan 12 Product Image

Outlook On Papua New Guinea Revised To Negative On Deteriorating Political Setting; 'B+/B' Rating Affirmed Jan 12

  • Published: January 2012
  • Region: Equatorial Guinea, Guinea
  • Standard & Poors

Abstract
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: Affirmed
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 READ MORE >

Papua New Guinea (Independent State of)

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