 | Sovereign credit rating for Bangladesh next month
24 February, 2011
Country's overall balance of payments (BoP) situation and the recent stock market debacle may feature prominently in the first review meeting on sovereign credit rating, to be held next month.
"Representatives of Moody's will review the country's sovereign credit rating from March 14 to March 16 this year," an executive director of the Bangladesh Bank (BB) told the FE Wednesday.
He also said Standard & Poor's (S&P's) will later review the sovereign credit rating in the middle of April this year.
Moody's Investors Service, a US-based credit rating agency announced for the first time its sovereign credit rating for Bangladesh as Ba3 on April 12 last, just after a week of Standard & Poor's (S&P's) sovereign credit rating as BB-.
During three-day review meeting, the Moody's representatives will meet different stakeholders, policy-makers, trade body leaders, senior bankers and journalists to know the country's latest socio-economical conditions.
"It's a continuous process. The sovereign credit rating will be reviewed every year to assess and know the country's latest economic situation," another BB official said, adding that the central bank is now working on the issue.
Sovereign credit rating is a strong tool for positioning Bangladesh in the global financial arena by providing relevant information and related indicators about its overall economic situation, experts said.
Release link:http://www.thefinancialexpress-bd.com/more.php?news_id=127054&date=2011-02-24
|
|
|
