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View all search resultsThe ratings are key for the government as it seeks to raise funds, primarily through the bond market, to finance its multibillion dollar economic recovery program that includes the national vaccination program.
Accor has been downgraded to junk status by ratings agency S&P Global, a decision set to cost the company tens of millions of euros in additional interest payments, as travel restrictions dim the outlook for the operator of Ibis and Sofitel hotels.
Indonesian rating agency Pemeringkat Efek Indonesia (Pefindo) has revised the outlooks of several financial institutions and downgraded the rating of asset-backed securities amid concerns over the impact of COVID-19 on the institutions’ performances.
The rationale behind the ratings decisions varies for each company but revolves around liquidity risks, concerns over debt repayment ability, a sharp rupiah depreciation, low commodity prices and overall weak demand.
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