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Standard & Poor's sovereign debt classified for Iraq
8/4/15
New York: agency Standard & Poor's announced Thursday that it had classified sovereign debt of Iraq and awarded him the degree of "bi" due to the conflict with al Daash.
The credit rating agency said in a statement that "Iraq faces the risk of once again on the institutions and the level of security," pointing out that these risks are "the highest among all sovereign countries being evaluated, especially because of its war with the organization of the Islamic state."
The agency also hinted to the difficulties in the establishment of permanent institutions in clashes divisions between Sunni and Shiite Arabs and Kurds. And also it noted "the budget and external pressures resulting therefrom because of lower oil prices in the second half of last year."
Oil prices fell by more than half since June 2014, particularly due to the large production of the Organization of Petroleum Exporting Countries (OPEC). But she pointed out that "Iraq has huge reserves and has significant oil exports", thereby reducing the concerns in this area.
So accompanying the Agency classified the prospect of stable growth, saying that the country will remain stable in the medium term due to the significant rise in oil production, which would reduce budget pressures.
The agency Fitch Ratings issued early August for the first time an assessment of Iraq and gave him the same class (bi). The third major agency Moody's has not yet classified as the religion of the country.
Iraq has been conflict and violence since the US-led invasion in 2003 that toppled Saddam Hussein's regime. It also faces a dispute with jihadists Daash organization since June 2014.
- See more at: [You must be registered and logged in to see this link.]
8/4/15
New York: agency Standard & Poor's announced Thursday that it had classified sovereign debt of Iraq and awarded him the degree of "bi" due to the conflict with al Daash.
The credit rating agency said in a statement that "Iraq faces the risk of once again on the institutions and the level of security," pointing out that these risks are "the highest among all sovereign countries being evaluated, especially because of its war with the organization of the Islamic state."
The agency also hinted to the difficulties in the establishment of permanent institutions in clashes divisions between Sunni and Shiite Arabs and Kurds. And also it noted "the budget and external pressures resulting therefrom because of lower oil prices in the second half of last year."
Oil prices fell by more than half since June 2014, particularly due to the large production of the Organization of Petroleum Exporting Countries (OPEC). But she pointed out that "Iraq has huge reserves and has significant oil exports", thereby reducing the concerns in this area.
So accompanying the Agency classified the prospect of stable growth, saying that the country will remain stable in the medium term due to the significant rise in oil production, which would reduce budget pressures.
The agency Fitch Ratings issued early August for the first time an assessment of Iraq and gave him the same class (bi). The third major agency Moody's has not yet classified as the religion of the country.
Iraq has been conflict and violence since the US-led invasion in 2003 that toppled Saddam Hussein's regime. It also faces a dispute with jihadists Daash organization since June 2014.
- See more at: [You must be registered and logged in to see this link.]
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