S&P rates Cambodia B+, B

Standard & Poor's said it assigned its B+/B foreign- and local-currency sovereign ratings on the Kingdom of Cambodia.

The outlook is stable.

The ratings take into account the country's relatively high public and external debt, some bilateral portions of which are in arrears, the agency said. Combined with a severely constrained revenue-generating capacity, Cambodia's debt-servicing ability is vulnerable to negative shocks. Cambodia requires continued donor assistance to maintain domestic solvency and to meet its development needs, S&P said.

These factors are balanced against Cambodia's track record of strong economic growth, together with ongoing strong donor engagement, which provides a policy anchor and underpins domestic and external liquidity, the agency said.

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