S&P revises Suriname to B-

Standard & Poor's said it revised its long-term foreign currency sovereign credit rating on The Republic of Suriname to B- from SD following new information provided by the government of Suriname.

The outlook is stable.

S&P said the new information indicates that principal and interest on the credit lines extended by Banco Bilbao Vizcaya Argentaria SA (AA-/stable/A-1+) and Banco Santander Central Hispano SA (A+/stable/A-1) are 100% guaranteed by the Spanish Export Credit Insurance Co. In view of this guarantee, S&P said it regards these credit lines as being official bilateral loans, rather than commercial obligations and the government arrears on these credit lines therefore do not constitute a default.

© 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.