STANDARD'S and POOR
Republic of Seychelles ‘B’ foreign currency rating affirmed
MUMBAI (Thomson Fin-ancial) - Standard's & Poor's Ratings Services said it aff-irmed its 'B' foreign currency and 'B+' local currency long-term sovereign credit ratings on the Republic of Seychelles.
The ratings agency also affirmed the 'B' short-term sovereign credit ratings and said the outlook on the long-term ratings remains negative.
The ratings on Seychelles are constrained by high public sector debt with arrears to official creditors, weak external liquidity, and high vulnerability of its economy to external shocks, S&P.