Republic of Suriname Downgraded To 'B+' From 'BB-' On Weaker External Liquidity And Fiscal Flexibility; Outlook Negative

OVERVIEW We are lowering our long-term sovereign credit rating on the Republic of Suriname to 'B+' from 'BB-'. The downgrade reflects the weakening of the country's external liquidity, fiscal flexibility, and debt burden, stemming from rising recent fiscal and current account deficits. We are also lowering our transfer and convertibility assessment on the republic to 'BB-' from 'BB'. We are affirming our 'B' short-term rating on Suriname. The negative outlook reflects the risk of further economic deterioration during the two-year outlook period. RATING ACTION On April 25, 2016, Standard&Poor's Ratings Services lowered its long-term sovereign credit rating on the Republic of Suriname to 'B+' from 'BB-'. At the same time, Standard&Poor's lowered its transfer and convertibility

...OVERVIEW + We are lowering our long-term sovereign credit rating on the Republic of Suriname to 'B+' from '##-'. + The downgrade reflects the weakening of the country's external liquidity, fiscal flexibility, and debt burden, stemming from rising recent fiscal and current account deficits. + We are also lowering our transfer and convertibility assessment on the republic to '##-' from '##'. + We are affirming our 'B' short-term rating on Suriname. + The negative outlook reflects the risk of further economic deterioration during the two-year outlook period. RATING ACTION On April 25, 2016, Standard & Poor's Ratings Services lowered its long-term sovereign credit rating on the Republic of Suriname to 'B+' from '##-'. At the same time, Standard & Poor's lowered its transfer and convertibility assessment on the republic to '##-' from '##'. Standard & Poor's also affirmed its 'B' short-term rating on Suriname. The outlook is negative RATIONALE The downgrade reflects the weakening of Suriname's...

Ratings Action