Mauritius, Government of - Moody's Global Credit Research

Mauritius, Government of

Mauritius, Government of - Moody's Global Credit Research
Mauritius, Government of
Published May 27, 2016
4 pages (2979 words) — Published May 27, 2016
Price US$ 750.00  |  Buy this Report Now

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...[1] Excludes re-exports [2] Sum of Exports and Imports of Goods and Services/GDP [3] Composite index with values from about -2.50 to 2.50: higher values suggest greater maturity and responsiveness of government institutions [4] Series break in 2009 [5] Current Account Receipts; Series break in 2009; Excludes re-exports [6] Series break in 2010; Includes Global Business cross-border transactions from 2010 onwards [7] Series break in 2010; Includes Global Business cross-border transactions from 2009 onwards [8] (Interest + Current-Year Repayment of Principal)/Current Account Receipts [9] (Short-Term External Debt + Currently Maturing Long-Term External Debt + Total Nonresident Deposits Over One Year)/ Official Foreign Exchange Reserves; Series break in 2009 [10] Liabilities to BIS Banks Falling Due Within One Year/Total Assets Held in BIS Banks [11] Total Foreign Currency Deposits in the Domestic Banking System/Total Deposits in the Domestic Banking System [12] Total Foreign Currency Deposits...

  
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Mauritius, Government of
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Government of Mauritius Baa1 Stable: Annual Credit Analysis - Issuer In-Depth – 2016/05/26 – US$ 750.00 – ... supports its Baa1 rating. The economy has proven resilient to an unfavourable external environment, thanks to its successful attraction of foreign investment (in the financial sector mainly) and diversification of exports. The authorities' proactive stance in maintaining Mauritius's attractiveness, coupled with the stable political environment, has contributed to this success. In the region, the country stands out for its business friendly environment. Lastly, the ample liquidity available in the domestic capital market supports the government's capacity to access local currency denominated funding. Mauritius's large and complex financial sector constitutes its main source of systemic risk. The government has a track record of supporting systemically important banks. The financial sector has been the principal source of foreign exchange earnings in Mauritius but it is also a source of vulnerability. As such, the authorities face the challenge...

Government of Mauritius Baa1 Stable: Semi-Annual Update - Credit Opinion – 2016/05/26 – US$ 300.00 – ...+ The credit strengths underpinning Mauritius's rating include (1) a dynamic and reasonably diversified economy; (2) stable and investment-friendly business environment; (3) pragmatic and competent policy-making. + The credit challenges for Mauritius include (1) high public debt relative to peers; (2) Small size of its economy; (3) vulnerability to external shocks....

Mauritius' Tax Treaty Amendments with India Are Credit Negative - Sector Comment – 2016/05/16 – US$ 200.00 – ...From Credit Outlook On 10 May, the government of Mauritius (Baa1 stable) announced substantial amendments to the Double Tax Avoidance Agreement (DTAA) in place with India since 1983. The amended treaty removes a longstanding advantage that allowed investors to avoid paying capital gain taxes in India by channelling their investment through Mauritius. The taxation agreement is credit negative for Mauritius because its financial centre will be a less attractive platform for investing in India than it used to be. We estimate that a curtailment of new investment flows through Mauritius would cause a deterioration in the balance of payments equal to 1%-2% of GDP annually, and consequently put pressure on Mauritian foreign exchange reserves. However, a sharper shift in investor sentiment would have more dire consequences. Mauritius' financial industry is a key economic pillar and the primary source of net financial inflows from abroad. The tax changes will particularly weaken Mauritius' balance...

Government of Mauritius: Government Faces Challenges Achieving Statutory Debt Target - Issuer Comment – 2016/02/08 – US$ 200.00 – ...Statutory debt forecast assumes debt of state-owned enterprises and government cash reserves remain a constant proportion relative to 2015. Source: Statistics Mauritius, Moody's...

Mauritius, Government of - Credit Opinion – 2015/11/24 – US$ 300.00 – ...Credit Strengths Mauritius's credit strengths include: - Dynamic and reasonably diversified economy - Stable and investment-friendly business environment - Pragmatic and competent policy-making Credit Challenges Mauritius's credit challenges include: - High public debt relative to peers - Small size of its economy - Vulnerability to external shocks Rating Rationale Mauritius' Baa1 government bond rating was affirmed on 24 November 2015, maintaining a stable outlook. This was supported by our expectation that Mauritius's key credit fundamentals will remain stable over the next two to three years. The Baa1 is supported by the high resiliency of the Mauritian economy which is reflected, in the context of our sovereign rating methodology, in our assessment of a `Moderate +' economic strength and `High +' institutional strength. On balance, government finance, is the main constraint on the Baa1 rating, reflected by our `Moderate' assessment of fiscal strength. Mauritius's economic strength is...

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Moody's Global Credit Research—Moody's Investors Service, a leading global credit rating, research and risk analysis firm, publishes credit opinions, research, and ratings on fixed-income securities, issuers of securities and other credit obligations. Credit ratings and research help investors analyze the credit risks associated with fixed-income securities. Ratings also create efficiencies in fixed-income markets and similar obligations, such as insurance and derivatives, by providing reliable, credible, and independent assessments of credit risk. For issuers, Moody's services increase market liquidity and may reduce transaction costs.

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MLA:
Moody's Global Credit Research. "Mauritius, Government of" May 27, 2016. Alacra Store. May 31, 2016. <http://www.alacrastore.com/moodys-credit-research/Mauritius-Government-of-CTS_600017176>
  
APA:
Moody's Global Credit Research. (). Mauritius, Government of May 27, 2016. New York, NY: Alacra Store. Retrieved May 31, 2016 from <http://www.alacrastore.com/moodys-credit-research/Mauritius-Government-of-CTS_600017176>
  
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