July 7, 2020 / 9:24 PM / a month ago

BRIEF-Moody's Downgrades Suriname's Rating To Caa3; Maintains Negative Outlook

July 7 (Reuters) -

* MOODY’S DOWNGRADES SURINAME’S RATING TO CAA3; MAINTAINS NEGATIVE OUTLOOK

* MOODY’S SAYS SURINAME’S DOWNGRADE TO CAA3 REFLECTS MUCH HIGHER PROBABILITY OF A DISTRESSED EXCHANGE OR DEFAULT ON MARKET DEBT THAN EXPECTED

* MOODY’S SAYS SPENDING PRESSURES FROM CORONAVIRUS AND INCREASED FINANCING NEEDS HAVE LED TO SEVERE TIGHTENING OF FINANCING CONDITIONS FOR SURINAME

* MOODY’S SAYS NEGATIVE OUTLOOK REFLECTS MATERIAL RISK OF EXTENSIVE RESTRUCTURING OF SURINAME’S MARKETABLE DEBT

* MOODY’S SAYS EXPECTS REAL GDP WILL CONTRACT BY 4% IN 2020, WITH RISKS TO THE DOWNSIDE FOR SURINAME Source text for Eikon:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below