Rating van Suriname door Moody's Investors Service ongewijzigd

Ministerie van Financiën: 'Moody's erkent de economische groei'


Het ministerie van Financiën heeft vandaag, dinsdag 25 februari 2020, via het Nationaal Informatie Instituut, NII, bekendgemaakt dat de rating van Suriname door Moody's Investors Service ongewijzigd is gebleven, zo schrijft de Ware Tijd. 

'Het B2-kredietprofiel met stabiele outlook wordt nog steeds ondersteund door de huidige economische kracht van het land.' De rating-evaluatie voor Suriname werd 22 januari al gepubliceerd op de website van Moody's (zie onderaan). Hoewel het kredietprofiel wordt ondersteund, wordt erop gewezen, dat er sprake is van een 'relatief kleine omvang' van de Surinames markt en 'beperkte productie diversificatie'. "Het ratingbureau merkte ook op dat het land nog steeds gevoelig is voor externe schokken en risico's als gevolg van de liquiditeitsbehoefte van de overheid', aldus Financiën.

Verder wordt aangegeven, dat Surinames bestuurskracht ('governance'), als gevolg van institutionele beperkingen met betrekking tot beleidseffectiviteit en uitvoering, tot B3 wordt gerekend, 'terwijl de hoge schuldenlast van de overheid een 'CAA 2'-fiscale krachtmeting oplevert'.

Ministerie van Financiën: 'Al met al geeft de analyse dus aan, dat Moody's de economische groei erkent en vooralsnog stabiele verwachtingen koestert.' 

Het volgende bezoek aan Suriname staat gepland voor augustus. In het persbericht wordt ook gesteld, dat de regering samenwerkt met Moody's en Standard & Poor's. 'De autoriteiten staan voortdurend in contact met deze twee agentschappen om ze van de vereiste, meest recente informatie te voorzien. Het in stand houden van de rating wordt door de Surinaamse autoriteiten als positief ervaren en ze zetten het pad van economische en sociale hervormingen onverstoorbaar voort.'


https://www.moodys.com/research/Moodys-announces-completion-of-a-periodic-review-of-ratings-of--PR_415371

Announcement of Periodic Review:

Moody's announces completion of a periodic review of ratings of Suriname, Government of

22 Jan 2020

New York, January 22, 2020 -- Moody's Investors Service ("Moody's") reviews all of its ratings periodically in accordance with regulations -- either annually or, in the case of governments and certain EU-based supranational organisations, semi-annually. This periodic review is unrelated to the requirement to specify calendar dates on which EU and certain other sovereign and sub-sovereign rating actions may take place. 

Moody's conducts these periodic reviews through portfolio reviews in which Moody's reassesses the appropriateness of each outstanding rating in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. Since 1st January 2019, Moody's issues a press release following each periodic review announcing its completion. 

Moody's has now completed the periodic review of a group of issuers that includes Suriname and may include related ratings. The review did not involve a rating committee, and this publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future; credit ratings and/or outlook status cannot be changed in a portfolio review and hence are not impacted by this announcement. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on www.moodys.com for the most updated credit rating action information and rating history. 

The credit profile of Suriname (issuer rating B2) is supported by the country's "b2" economic strength, reflecting the economy's small size and limited diversification as compared with peers; Suriname's "b3" institutions and governance strength, reflecting institutional constraints related to policy effectiveness and execution; its "caa2" fiscal strength, reflecting the government's high debt burden and weak debt affordability metrics; and its "baa" susceptibility to event risk, reflecting risks posed by government liquidity, specifically limited funding options to meet large borrowing requirements. 

This document summarizes Moody's view as of the publication date and will not be updated until the next periodic review announcement, which will incorporate material changes in credit circumstances (if any) during the intervening period.
The principal methodology used for this review was Sovereign Ratings Methodology published in November 2019. Please see the Rating Methodologies page on www.moodys.com for a copy of this methodology. 

This announcement applies only to EU rated and EU endorsed ratings. Non EU rated and non EU endorsed ratings may be referenced above to the extent necessary, if they are part of the same analytical unit. 

This publication does not announce a credit rating action. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on www.moodys.com for the most updated credit rating action information and rating history. 

David Rogovic
Vice President - Senior Analyst
Sovereign Risk Group
Moody's Investors Service, Inc.
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Yves Lemay
MD - Sovereign Risk
Sovereign Risk Group
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