S&P cuts long-term credit ratings on Cape Verde

Reuters
A view shows the Standard & Poor's building in New York's financial district
.

View photo

A view shows the Standard & Poor's building in New York's financial district February 5, 2013. …

SYDNEY (Reuters) - Standard & Poor's Ratings Services lowered its long-term foreign and local currency sovereign credit ratings on Cape Verde to 'B' from 'B+' on Friday.

The credit ratings agency said they have reaffirmed its short-term ratings at 'B' and the outlook is stable.

"Cape Verde's fiscal and external deficits are now worse than we had previously anticipated," S&P said in a statement.

View Comments (0)