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Asia-Pacific Credit Ratings Safe for Now, According to Standard and Poor's |
| Source: |
adelaidenow.com.au |
| Source Date: |
Sunday, August 07, 2011 |
| Focus: |
ICT for MDGs
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| Created: |
Aug 09, 2011 |
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RATINGS agency Standard and Poor's says its unprecedented US credit rating downgrade will have no immediate impact on Asia-Pacific sovereign ratings, but could have negative consequences over the long-term.
Standard and Poor's on Friday lowered US issuer credit ratings to AA+ from AAA.
S&P says the US rating downgrade, together with weakening sovereign creditworthiness in Europe, points to an increasingly uncertain and challenging environment ahead.
"Uncertainties in the global financial market and weakened prospects in the developed economies have further undermined confidence," S&P said in a statement.
"The potential longer-term consequences of a weaker financing environment, slower growth, and higher risk aversion are negative factors for Asia-Pacific sovereign ratings."
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Asia-Pacific Credit Ratings Safe for Now, According to Standard and Poor's RATINGS agency Standard and Poor's says its unprecedented US credit rating downgrade will have no immediate impact on Asia-Pacific sovereign ratings but could have negative consequences over the long-term
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