S&P cuts credit ratings of five oil producing countries
by ChemOrbis Editorial Team - content@chemorbis.com
According to media reports, international rating agency Standard & Poor’s (S&P) cut the credit ratings of Saudi Arabia, Brazil, Bahrain, Oman and Kazakhstan, citing plunging crude oil prices. In early 2015, S&P had lowered its credit ratings for Saudi Arabia, Brazil, Russia and Venezuela for the same reason.
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.
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 news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Turkey’s PP, PE markets open 2021 with supply-driven hikes
- Vietnam’s local homo-PP market retreats for 3rd week on subdued demand
- China’s PE demand wavers amid controls on environmental pollution and electricity use
- January trend takes shape in Egypt’s PP, PE markets
- Stats: Turkey’s 2020 polymer imports set to beat the 2017 record
- China PP, PE markets close 2020 on a soft note; SE Asia feels pressure
- Stats: China’s total PE imports down for 2nd month in November
- Egypt PET markets poised to end the year on a strong note
- China ABS prices move below SEA after 8 months
- Sentiment in Turkey’s PP, PE markets defies faltering in China
