Bangkok--21 Apr--Standard & Poor's
In a report released today titled, "The G-20: Will There Be A Changing of the Guard?" Standard & Poor's Ratings Services looks at the sovereign rating fundamentals of the G-20 member governments. "Notwithstanding the deterioration of public finances and growth prospects for many of the high income G-20 governments following the global recession, we believe that the damage is temporary," said John Chambers, chairman of Standard & Poor's sovereign rating committee. "We believe that their political institutions and economic structure, combined with their deeper capital markets, support their higher ratings compared with those of many emerging market sovereigns," he added.
The article includes forecasts for key rating indicators for each of the G20 governments and articles on factors that could affect the ratings in the coming year.
"In most cases, particularly for governments of countries this size, creditworthiness isn't an attribute established in one moment and destroyed in the next," Mr. Chambers said. "It's built or eroded over a generation of policymakers. In our opinion, it's usually not the single reform or the single policy mistake that makes the difference, but the consistency of reforms or the persistence of mistakes that counts in the end."
The report is available to RatingsDirect on the Global Credit Portal subscribers at www.globalcreditportal.com and RatingsDirect subscribers at www.ratingsdirect.com. If you are not a RatingsDirect subscriber, you may purchase a copy of the report by calling (1) 212-438-7280 or sending an e-mail to
[email protected]. Ratings information can also be found on Standard & Poor's public Web site by using the Ratings search box located in the left column at www.standardandpoors.com. Members of the media may request a copy of this report by contacting the media representative provided.
Media Contact:
David Wargin, New York (1) 212-438-1579,
[email protected]
John Piecuch, Paris, (33) 1-4420-6657,
[email protected]
Analyst Contacts:
John Chambers, CFA, New York (1) 212-438-7344
Marie Cavanaugh, New York (1) 212-438-7343
David T Beers, London (44) 20-7176-7101