S&P cuts credit ratings of five oil producing countries
The agency reportedly downgraded Saudi Arabia’s rating a couple of levels to A- from A+ while Brazil’s rating dropped one level to BB from BB+. S&P lowered Bahrain’s rating to BB from BBB-, costing the country its investment grade status.
Meanwhile, Oman’s credit rating went down by two levels to BBB- from BBB+ while Kazakhstan saw its credit rating downgraded by one level to BBB- from BBB.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- PVC market in China suffers larger declines than in India
- African PE markets hit historical lows on greater competition from US supply
- Italy’s PVC market takes a downward turn in Nov following ethylene
- Turkey’s import PP market hovers around 3-year low as activity stays depressed
- HDPE moves below LDPE, LLDPE after almost two years in Asia
- Price gap between PS and styrene widens in Asia
- Turkey's polymer imports rebound in Q3; will 2019 end with a smaller-than-expected fall?
- China's PE imports hit a new record of 12 m tons in first 3 quarters
- Year-end stock clearing adds to bearish PE trend in SE Asia
- Tax on plastic packaging causes jitters among Italian players