S&P affirms Libya

Standard & Poor's said it affirmed the A- long-term and A-2 short-term foreign- and local-currency ratings on the Socialist People's Libyan Arab Jamahiriya (Libya). The transfer and convertibility assessment remains A-.

The outlook is stable.

The agency said it considers Libya to have one of the strongest fiscal positions among A-rated sovereigns.

Libya has substantial public sector assets and negligible debt, fairly modest financial contingent liabilities, a large external liquidity cushion and solid medium-term growth prospects in its energy sector, the agency said.

The ratings are constrained by is considered to be limited transparency of decision-making within the government, S&P said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.