Comments from ratins firm Standard and poors on Iraq, Reuters with the headlines
- Says Iraq faces security and institutional risks that are among the highest of all rated sovereigns
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I can't believe the stick these ratings agencies take ... S&P once again proving, beyond doubt, how SHARP they are.
More:
- Assigns Republic of Iraq sovereign credit outlook at stable; current rating is B-
- Projected large increases in oil production will support economic growth and help alleviate fiscal, external pressures over medium term
- Rating on Iraq is constrained by war with Islamic state, political institutions that are in an early stage of development
- Stable outlook premised on expectation that fiscal, external deficits will not worsen beyond forecasts, war with isis will be contained
- "We think Iraq's oil production will reach about 5 million barrels per day (b/d) by 2018 (with exports of about 4.5 million b/d)"
I'll have more from the Department of No S***, Sherlock as soon as it comes in.