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Moody's Investors Service has today withdrawn its provisional rating of (P)Caa1 for Government of Iraq's planned USD bond issuance.

The issuance rating has been withdrawn following statements made by Iraq's Deputy Finance Minister that the issuance plans have been put on hold.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 assigned the provisional rating of (P)Caa1 ahead of the planned issuance of USD-denominated debt by the Iraqi government in the United States under Rule 144A.

(Source: Moody's)

(Bonds image via Shutterstock)