The global credit rating agency downgrades sovereign Iraq because of "Daash"

And a global credit rating agency downgrades sovereign Iraq because of "Daash"

The credit rating agency "Standard & Poor's" has announced that it has on Thursday, September 3 / September classification of sovereign debt of Iraq and awarded him the degree of "B-" because of the conflict with the terrorist organization Islamic state.
The agency said in a statement that "Iraq faces the risk of once again on the level of security institutions," noting that these risks are "the highest among all sovereign countries being evaluated, especially because of its war with the organization of the Islamic state."

The Agency also alluded to "the budget and external pressures resulting therefrom because of lower oil prices in the second half of last year."

Oil prices have fallen by more than half since the month of June 2014, especially because of the large-scale production of the Organization of Petroleum Exporting Countries "OPEC".

However, "S & P" indicated 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, saying that the country's growth will remain steady in the medium term due to the significant rise in oil production, which will ease of budget pressures.
The agency "Fitch" credit rating issued early August / last August for the first time an assessment of Iraq and gave him the same degree "B-", the third global agency "Moody's" has not yet classified the religion of the country.

http://goo.gl/YlbCZM

So much for the pooroo types that were arguing that because only one credit rating organization had rated Iraq it wasn't the real deal and didn't really matter. Now two out of three have and with the same rating. Moody's uses a different rating system, but I expect they will rate Iraq no better than Ba2 possible as low as B2. I would be surprised to see it outside that range.