oct 6th, 2008
once their puny foreign exchange reserves are used up, they can enjoy what zulfiqar ali bhutto said they would do: "eat grass". for some odd reason, the saudis are not even giving them free oil as they usually do.
not that S&P ratings are meaningful any more. these are the geniuses who gave AAA ratings to toxic mortgage-backed securities. in other words, they have no idea about risk.
once their puny foreign exchange reserves are used up, they can enjoy what zulfiqar ali bhutto said they would do: "eat grass". for some odd reason, the saudis are not even giving them free oil as they usually do.
not that S&P ratings are meaningful any more. these are the geniuses who gave AAA ratings to toxic mortgage-backed securities. in other words, they have no idea about risk.
---------- Forwarded message ----------
From: Shahryar
From: Shahryar
| Thomson Financial News S&P downgrades Pakistan further into junk territory 10.06.08, 4:33 AM ET HONG KONG, Oct 6 (Reuters) - Ratings agency Standard & Poor's cut Pakistan's sovereign rating further into junk territory, saying the country's worsening external liquidity may imperil its ability to meet about $3 billion in upcoming debt obligations. S&P lowered on Monday its foreign currency rating on the country to CCC-plus from B, with a negative outlook. Pakistan's local currency debt rating was lowered to B-minus from BB-minus. |
No comments:
Post a Comment