Standard & Poors (S&P)

BSP credit rating lowered

According to the Standard & Poors (S&P) 2018 revised ratings assessment report released on April 30th, S&P has lowered BSP’s credit rating from 'B+' longterm and ‘B’ short term ratings outlook on the Bank to ‘B’.

At the same time, S&P’s longterm issuer credit rating outlook for Bank South Pacific Ltd is ‘stable’.

BSP Bard Chairman, Kostas Constantinou, says the movement in BSP’s rating follows a similar revision of Papua New Guinea’s sovereign rating which was announced recently.