Not just those who are in EU or North America that gets downgraded.
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12:49 Standard & Poor's has revised its methodology and assumptions for rating sovereign governments. As a result, we are lowering the long-term local currency sovereign credit rating on Macedonia to 'BB' from 'BB+' and affirming the long-term foreign currency sovereign credit rating at 'BB'.
In our opinion, governments are likely to have fewer incentives to differentiate between their local and foreign currency debt in the event of a debt restructuring, given the increasing globalization of markets.
The stable outlook reflects our view that Macedonia's creditworthiness could improve if it were to adequately address some of the structural issues that constrain growth rates, including a lack of infrastructure, unreliable energy provision, and high unemployment rates.
Standard & Poor's Ratings Services said today that it lowered its long-term local currency sovereign credit rating on the Republic of Macedonia to 'BB' from 'BB+' and affirmed its long-term foreign currency sovereign credit rating at 'BB'. We also affirmed the 'B' short-term ratings on Macedonia. The outlook is stable. Our transfer and convertibility assessment for Macedonia remains 'BB+'.
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12:49 Standard & Poor's has revised its methodology and assumptions for rating sovereign governments. As a result, we are lowering the long-term local currency sovereign credit rating on Macedonia to 'BB' from 'BB+' and affirming the long-term foreign currency sovereign credit rating at 'BB'.
In our opinion, governments are likely to have fewer incentives to differentiate between their local and foreign currency debt in the event of a debt restructuring, given the increasing globalization of markets.
The stable outlook reflects our view that Macedonia's creditworthiness could improve if it were to adequately address some of the structural issues that constrain growth rates, including a lack of infrastructure, unreliable energy provision, and high unemployment rates.
Standard & Poor's Ratings Services said today that it lowered its long-term local currency sovereign credit rating on the Republic of Macedonia to 'BB' from 'BB+' and affirmed its long-term foreign currency sovereign credit rating at 'BB'. We also affirmed the 'B' short-term ratings on Macedonia. The outlook is stable. Our transfer and convertibility assessment for Macedonia remains 'BB+'.
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