Moody’s assigns Maldives’ first sovereign credit rating
The Maldives was assigned a local and foreign currency issuer rating of B2, which is considered “speculative and subject to high credit risk.” According to Moody’s, the rating and stable outlook reflect healthy growth prospects driven by the tourism sector, low institutional strength, and a high and rising debt burden.
03 Sep 2016, 9:00 AM
The global credit ratings agency Moody’s has assigned a first-time bond issuer rating with a stable investment outlook to the Maldivian government.
With its first sovereign credit rating, the Maldives became the 5th smallest nation by GDP that the Moody’s Investor Service rates, the company said in a press release on Sunday.
Moody’s, one of the top three credit rating agencies in the world, ranks the creditworthiness of borrowers on a scale of Aaa to C, which measures investor loss in the event of default with C representing the lowest quality.
The Maldives was assigned a local and foreign currency issuer rating of B2, which is considered “speculative and subject to high credit risk.”
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