The degree of Iraq's credit rating could rise

2/3/2016 0:00

BAGHDAD Mustafa al-Hashemi
The head of the Minister for Economic Affairs Adviser Dr. appearance of Mohammed Saleh possibility of improvement in the degree of Iraq's credit rating to a higher degree during the current year.

Saleh added in a statement »Sabah» that the degree classification certainly will rise after the liberation of Mosul and some cities in Anbar, stressing that the rise in oil prices and the gradual recovery that would contribute to the progress of the degree of Iraq's credit rating.

Known credit rating GCR, which is an acronym for (global credit rating) as a measure to assess the possibility of the borrower to meet its obligations in the face of lenders, or in other words, the risk of non-payment the lender (issuer) to meet its obligations (loan to value and benefits) of the borrower (bondholder) . And is rated the world's credit rating ladder consists of four grades are A, B, C and D as well as variables that represent signal + or - different Petkrarat.

The credit rating agencies of the three, the Standard & Poor's, and Moody's, Fitch in general risks related to religion versions for both corporations or governments evaluate. The rating agency Standard & Poor's, the largest credit rating agencies in the world, confirmed Friday its credit rating for Iraq at B- / B in spite of the fluctuation of oil prices and a height of caution and gave him a stable outlook, adding in a statement that the decline in the price of oil has kept the financial pressure and external.

However, the «Standard & Poor's» pointed out that Iraq has huge reserves and has substantial oil exports, thereby reducing the concerns in this area, so attached to the agency classified the prospect of a stable, usually the growth of the country that he will remain steady in the medium term due to the significant increase in oil production is It will ease budget pressures. He returned to favor confirms that the liberation of the Iraqi cities terror Sather certainly in the high temperature rating, hoping to be the class to a class A during the next six months.

He explained that the agency conducted a review of the degree classification every six months during a meeting of financial institutions and the Ministry of Planning and the security agencies and other relevant departments, stressing that the indicators confirm the liberation of the cities of Iraq during the current year from terrorism.

He stressed that the stability of Iraq would give him the highest degree of rating with a stable outlook, given the global reputation in the payment of its financial obligations as well as possession of resources that qualify to ascend to the highest credit ratings.