The chairman of the BSP Group, Kostas Constantinou, has
announced that Standard & Poors (S&P) has improved its assessment of
BSP.
S&P, in its report released on November 1, 2012,
indicated that it had revised its long-term issuer credit rating outlook for
Bank of South Pacific Ltd from negative to stable.
At the same time, it affirmed its 'B+' long-term and
"B" short term ratings outlook on the bank
The upgraded BSP assessment follows a review of PNG’s
sovereign rating.
Following the general
elections and the formation of a new government in August, S&P has noted an
"improved political setting".
Constantinou said that BSP Group was encouraged by this
positive re-assessment of the group’s credit rating.
“BSP is committed to
maintaining its enhanced credit profile, and its strong business position in PNG
and across the Pacific region,” he said.
No comments:
Post a Comment