Fitch downgrades Suriname

Fitch Ratings said it downgraded Suriname's long-term foreign- and local-currency issuer default ratings to B- from B+.

The outlook remains negative.

The ratings on Suriname's senior unsecured foreign-currency bonds also were downgraded to B- from B+.

The country ceiling also was downgraded to B- from B+, Fitch said, and its short-term foreign- and local-currency issuer default ratings were affirmed at B.

The downgrades reflect the deterioration of its public and external balance sheets and continued macro instability in the wake of commodity shocks, the agency said.

Suriname's external liquidity remains weak relative to its larger external vulnerabilities, Fitch 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.