Fitch Ratings has revised the Outlook on Iraq's Long-Term Foreign-Currency Issuer Default Rating (IDR) to Stable from Negative and affirmed the IDR at 'B-'. The Country Ceiling has been affirmed at 'B-' and the Short-Term Foreign-Currency IDR at 'B'. KEY RATING DRIVERS The revision of the Outlook reflects the following key rating drivers: Iraq's fiscal […]
Fitch Ratings has affirmed Iraq's Long-Term Issuer Default Rating (IDR) at 'B-' with a Negative Outlook. The Country Ceiling is affirmed at 'B-' and the Short-Term IDR at 'B'. KEY RATING DRIVERS Political risk and insecurity in Iraq are among the highest faced by any sovereign rated by Fitch. Progress has been made in pushing […]
By John Lee. Reuters reports that Iraq expects to sell $2 billion in eurobonds in the last quarter of this year, when international aid starts coming in, helping lower its cost of borrowing. Finance Minister Hoshiyar Zebari (pictured) told the news agency that Iraq expects to receive $600 million in September from the International Monetary […]
By John Lee. The CEO of Standard Chartered in Iraq has said that the bank is in talks with Iraq’s Finance Ministry to take part in a $2-billion bond sale this year. Andreas Meletiou also told Bloomberg that the London-based bank is also holding talks with other government institutions about their financing needs. A planned […]
Fitch Ratings has revised its outlook on Iraq's Long-term foreign currency Issuer Default Rating (IDR) to Negative from Stable and affirmed the IDR at 'B-'. The Country Ceiling has been affirmed at 'B-' and the Short-Term foreign currency IDR at 'B'. KEY RATING DRIVERS The revision of the Outlook reflects the following key rating drivers: […]
By Simon Kent. A recent report by Standard & Poor gave Iraq a B- foreign currency rating, indicating significant risk for investors, but nonetheless noted that in the short term, the economy would remain stable with 0.3% growth and longer term, up to 5% from rising oil output up to 2018. That is the good news […]
