Standard & Poor's Gives Iraq Credit Rating B-/B

  • Bagdad, Republic of Iraq
  • 27 August 2018

Standard & Poor's Credit Rating Agency granted Iraq credit rating at B- / B with a stable outlook.
According to the agency, the government debt to Iraq over the next four years is expected to increase, and the deficit in the government budget and the current account will worsen.
Regarding the outlook, according to the agency, the stable outlook reflects the expectation that the political measures under the IMF program will contain risks to Iraq's fiscal performance, stating that it may reduce its rating to Iraq if there is a sharp increase in net government debt or service expenses debt.
The agency said it does not expect to raise its ratings for Iraq over the next 12 months, but it may do if there were any improvement with the political stability and security, along with public finances.
Source: (CNBC Arabia, Edited)