Moody’s Rates Iraq Stable
Moody’s Rates Iraq Stable

Moody’s Rates Iraq Stable

Moody’s Rates Iraq Stable

Moody’s on Friday has assigned a Caa1 long-term issuer rating with a stable outlook to the government of Iraq, Reuters reported. The ratings agency likewise gave a provisional Caa1 senior unsecured rating to the country’s bond issuance, a B3 for its long-term local currency and foreign currency bond ceilings and a Caa2 rating for long-term local currency and foreign currency deposit ceilings. Moody’s said the Caa1 rating, considered to be of poor standing and subject to very high credit risk, was driven by key factors regarding Iraq’s economy, institutional strength, fiscal position as well as political situation. “Iraq has a relatively large economy that is endowed with very substantial oil wealth, but which suffers from highly volatile growth due to its lack of economic diversification,” Moody’s said. Iraq’s proven oil reserves were placed at 153 billion barrels, the fifth largest in the world, equivalent to 9% of global proven reserves at the end of 2016.


Short URL : https://goo.gl/WBSi7m
  1. https://goo.gl/5f3oZH
  • https://goo.gl/mKrfbh
  • https://goo.gl/ZnycPF
  • https://goo.gl/VBNCLT
  • https://goo.gl/AifZBK

You can also read ...

IMF expects demand growth for housing to remain robust.
The International Monetary Fund says any pickup in Australian...
The telecommunications and computers industry saw  flat year-on-year performance in the third quarter.
Singapore’s domestic wholesale trade expanded by 11.3% in the...
Household debt topped the list of key systemic risks cited by market watchers at 87%.
South Korea’s growing household debt and geopolitical risks...
Jordan’s real GDP is forecast to grow at 3% in 2018 and 3.2% in 2019.
Jordan’s economy which has been straddled with mounting debt...
Nigeria Recovery Fragile
Nigeria’s economy grew 1.4% year-on-year in the third quarter...
The export climate index remains elevated.
Japan’s exports grew 14% over a year earlier in October on...
Michel Barnier during his speech in Brussels, Nov 20, said: Britain would lose its “passporting” rights to let banks automatically do business in the EU after it leaves in March 2019.
European Union Brexit chief Michel Barnier said on Monday the...
Mongolia Rated Positive
Fitch Ratings agency has revised Mongolia’s credit rating from...

Add new comment

Read our comment policy before posting your viewpoints

Enter the characters shown in the image.