S&P rates Fiji notes B+

Standard & Poor’s said it assigned a B+ long-term issue rating to Republic of Fiji’s proposed unsecured notes.

The issue will constitute the direct, unconditional and unsecured obligations of the Republic of Fiji, S&P said.

The sovereign credit ratings on Fiji reflect a view of the country’s weak institutional settings, low income level and limited monetary policy flexibility that constrain the government’s credit-standing, the agency said.

Mitigating these weaknesses are the government’s moderate fiscal metrics and sound external position, S&P said.

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