...The global financial crisis and recession are taking a heavy toll on the finances of high-grade governments and eroding sovereign creditworthiness. Nonetheless, in Fitch Ratings' opinion, there are few entities (or transactions) that have a stronger credit profile than `AAA'-rated sovereigns. Given the unprecedented scale and scope of the economic and financial crisis, it is evident that there is tremendous uncertainty regarding any assessment of the ultimate fiscal costs of the crisis, the severity of the economic downturn, the ability of economies to restructure and recover, and the pace of post-crisis fiscal consolidation. Against this backdrop, the primary focus of Fitch's sovereign credit analysis is the capacity to absorb the near- term economic and fiscal costs of the crisis on sovereign balance sheets, a factor that will also influence Fitch's assessment of medium- to long-run credit fundamentals. This Special Report describes the analytical framework for assessing the impact on...
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| Company(ies): | Government of United States of America, Government of Luxembourg, Government of Belgium, Government of Finland, Government of Switzerland, Government of Austria, Government of Denmark, Government of Netherlands, Government of New Zealand, Government of Canada, Government of France, Government of Sweden, Government of United Kingdom, Government of Australia, Government of Republic of Ireland, Government of Spain, Government of Germany
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