S&P gives fresh warning on emerging market sovereign downgrades
Emerging markets are likely to see more sovereign downgrades than upgrades for the next year or two, ratings firm Standard and Poor's warned on Monday.
A new report from the firm's chief rating officer for sovereign ratings said a record nine of the top 20 developing economies had negative outlooks on their ratings which meant they were effectively on a downgrade warning.
"This is our heaviest ever negative bias on emerging market sovereigns and why we expect downgrades will outpace upgrades in the next year or two." S&P's Moritz Kraemer said.
Near-term risks not only included... read more
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