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Iraq is more creditworthy than Greece, says Fitch
08/07/15 15:16 - Updated at 15:19
The US rating agency Fitch has first Iraq assessed. Iraq appears more creditworthy than Greece.
Iraq is more creditworthy than Greece, says Fitch
Iraq has or one of the grimmest economic profiles of all countries that Fitch has rated yet it gets a higher rating than Greece.
Iraq, plagued by sectarian violence and constant attacks by the armed group Islamic State (IS), gets Fitch B- on the report.
That's not a good score, but one that is two steps higher than the CC which Greece is assigned. Due to the uncertainty over the debt obligations to lenders CCC Fitch lowered the credit assessment of Greece by the end of June to CC.
According to Fitch brings to invest in Iraq a 'high risk' it. For Greece, there is a 'very high risk'. Iraq and Greece should it ask to Fitch standards with the 'junk'- or rommel' status.
Fitch makes what Iraq is concerned first and foremost concerned about the political uncertainty and the fiscal position, which has deteriorated significantly since 2013. The banking sector is underdeveloped and fundamentally weak. Moreover, the country suffers from the Middle East with corruption and an inefficient government. (BO)
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08/07/15 15:16 - Updated at 15:19
The US rating agency Fitch has first Iraq assessed. Iraq appears more creditworthy than Greece.
Iraq is more creditworthy than Greece, says Fitch
Iraq has or one of the grimmest economic profiles of all countries that Fitch has rated yet it gets a higher rating than Greece.
Iraq, plagued by sectarian violence and constant attacks by the armed group Islamic State (IS), gets Fitch B- on the report.
That's not a good score, but one that is two steps higher than the CC which Greece is assigned. Due to the uncertainty over the debt obligations to lenders CCC Fitch lowered the credit assessment of Greece by the end of June to CC.
According to Fitch brings to invest in Iraq a 'high risk' it. For Greece, there is a 'very high risk'. Iraq and Greece should it ask to Fitch standards with the 'junk'- or rommel' status.
Fitch makes what Iraq is concerned first and foremost concerned about the political uncertainty and the fiscal position, which has deteriorated significantly since 2013. The banking sector is underdeveloped and fundamentally weak. Moreover, the country suffers from the Middle East with corruption and an inefficient government. (BO)
[You must be registered and logged in to see this link.]
