April 16, 2018 / 1:25 PM / 5 months ago

BRIEF-S&P Lowers Papua New Guinea’s Sovereign Credit Rating To 'B', Raises Outlook To Stable

April 16 (Reuters) - S&P:

* S&P LOWERS PAPUA NEW GUINEA’S SOVEREIGN CREDIT RATING TO B FROM B+; RAISES OUTLOOK TO STABLE FROM NEGATIVE

* SAYS PAPUA NEW GUINEA RATINGS LOWERED TO ‘B’ ON DETERIORATING DEBT PROFILE AND LOWER ECONOMIC GROWTH; OUTLOOK IS STABLE

* SAYS AFFIRMED ITS ‘B’ SHORT-TERM FOREIGN AND LOCAL CURRENCY RATINGS ON PAPUA NEW GUINEA

* SAYS STABLE OUTLOOK REFLECTS VIEW THAT PAPUA NEW GUINEA TO REMAIN LOW-INCOME ECONOMY WITH WEAK INSTITUTIONS, LIMITED MONETARY POLICY FLEXIBILITY Source text - (bit.ly/2H1JC0c)

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