Tag Archives | credit rating

Moody’s Withdraws Credit Rating on Planned Iraqi Bonds

By John Lee. Moody’s Investors Service has today withdrawn its provisional rating of (P)Caa1 for Government of Iraq’s planned USD bond issuance. The issuance rating has been withdrawn following statements made by Iraq’s Deputy Finance Minister that the issuance plans have been put on hold. The last rating action was in September 2015 when Moody’s […]

Moody’s Rates Iraqi Govt Bonds

Moody’s Investors Service has today assigned a provisional rating of (P)Caa1 to Government of Iraq’s planned USD-bond issuance, with a stable outlook. The rating was initiated by Moody’s Investors Service and was not requested by the rated entity. It is being assigned ahead of planned issuance of USD-denominated debt by the Iraqi government in the […]

Fitch Rates Iraqi Debt as ‘Junk’

Fitch Ratings issued its first rating on Iraqi sovereign debt, giving it the fifth-worst junk grade, due in part to the cost of the civil conflict and the global slump in oil prices. The rating comes as the country is planning a $5-billion bond issue towards the end of this year. The international ratings agency […]

Iraq Seeks Credit Rating before Bond Issue

By John Lee. Reuters reports that Iraq is approaching credit rating agencies to obtain a sovereign credit rating as it prepares for its first international bond sale for nine years. Finance Minister Hoshiyar Zebari (pictured) told the news agency: “We started the process … The banks are also trying to help us in that direction.” […]