July 25, 2023 2:19 PM

S&P lowers Bangladesh's rating outlook to negative from stable

Standard & Poor's Global Ratings on Tuesday lowered Bangladesh's long-term rating outlook to negative from stable, sitting liquidity risks. Bangladesh is struggling to pay for imported fuel because of a dollar crunch and its dollar reserves have shrunk by more than a third since February 2022. Rating agency reaffirmed its BB- long-term and B short-term sovereign credit ratings on Bangladesh but said they could be lowered if external debt or liquidity metrics worsened further....