S&P reaffirms rating despite political worry
Cambodia has retained its B credit rating despite ratings company Standard & Poor’s citing the country’s ongoing political standoff as a “major” constraint.
S&P affirmed Cambodia’s B/B credit rating last week, labeling the country as having a strong and stable long-term and short-term outlook.
Engagement of international donors, a “modest” debt level of 25.4 per cent of gross domestic product, an expanding tourism sector and strengthening garment exports were key factors behind Cambodia retaining its rating, the ratings firm said.
However, S&P also expressed concerns for Cambodia’s low average income level of $1,040 per capita and the government’s “non-transparent” policy making, saying these are “persistent” rating constraints. …
Eddie Morton
http://www.phnompenhpost.com/business/sp-reaffirms-rating-despite-political-worry
