S&P downgrades national sovereign debt rating
Ratings agency Standard & Poor’s yesterday lowered Cambodia’s long-term sovereign credit rating by one notch to B due to the country’s continued inability to diversify its economy and increase government spending. The decision by Standard & Poor’s comes after the agency said in September that constraints on government spending were adding to the levels of risk associated with Cambodia’s economy, especially in light of a recent decision by the World Bank to freeze all new loans to the country until human rights abuses regarding evictions at Boeng Kak lake are resolved…
