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Fitch Rates Maldives’ Debut USD Bonds Final ‘B+’ – Reuters

fitch ratings

(The following statement was released by the rating agency)
HONG KONG, June 07 (Fitch) Fitch Ratings has assigned the Maldives’ US dollar-denominated bonds a final rating of ‘B+’. The USD200 million bond issue with a coupon of 7.0% will mature on 7 June 2022. The final rating replaces the expected rating of ‘B+(EXP)’ that Fitch assigned on 30 May 2017.

KEY RATING DRIVERS
The bond rating is in line with the Maldives’ Long-Term Foreign-Currency Issuer Default Rating (IDR) of ‘B+’ with a Stable Outlook.

RATING SENSITIVITIES
The rating would be sensitive to any changes in the Maldives’ Long-Term Foreign-Currency IDR.
Fitch assigned the Maldives a Long-Term Foreign-Currency IDR of ‘B+’ with a Stable Outlook in May 2017. The Long-Term Local-Currency IDR is also ‘B+’.

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Source URL: Google News

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