S&P lowers Suriname bond to D

S&P said it downgraded the Republic of Suriname’s $125 million December 2023 bond to D from CC.

After an extension and amendment of the government's solicitation, bondholders gave their consent on Nov. 30. “We view this kind of restructuring as a distressed debt exchange. Therefore, in accordance with our S&P Global Ratings Definitions, published Aug. 7, 2020, we lowered our issue-level rating on Suriname's December 2023 bond to D,” the agency said in a press release.

Simultaneously, S&P affirmed its SD long-term foreign currency and CC long-term local currency sovereign credit ratings on Suriname and its D issue-level rating on the $550 million bond due in October 2026.

The local-currency outlook is negative.

© 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.