credit rating

Bank of America upgrades bonds despite doubts over govt’s IMF dealings

Country’s rating was cut to “A2”, five notches above investment grade

Will monitor upcoming elections; pending economic reforms, IMF loan are key determinants

Agency says ‘CCC’ rating reflects high external funding risks amid high medium-term financing requirements

Industry presses govt to take emergency steps for improving economy

Predictions much higher than assessments made by SBP, says country's susceptibility to event risk is 'high'

Many companies have opted for inter-corporate financing rather than taking bank loans

Standard & Poor's remove Britain's coveted AAA status, downgrading it by two notches with a long-term negative outlook

Fellow agencies, Standard and Poor’s and Fitch have also downgraded Saudi Arabia in recent months

Considers downgrading other crude exporters due to low prices

Government debt has swelled from less than 5% of annual economic output three years ago

It also pointed to a new media law that gives the government extensive control over management of public broadcasters

S&P, which lowered the Netherland’s rating in November 2013, gave the country a stable outlook

Fall comes as the kingdom’s deficit rose sharply due to low oil prices