Cook Islands Primary Credit Analysis Feb 3, 2017 report

On Feb. 3, 2017, S&P Global Ratings affirmed its 'B+/B' sovereign issuer credit ratings on the Cook Islands. The outlook remains stable. The Transfer & Convertibility assessment remains 'AAA'.

Overview 

The Cook Islands' developing policymaking and institutional settings, narrow economic base with infrastructure shortcomings, absent monetary policy flexibility, and information deficiencies, particularly in the external accounts, weaken the country's credit quality. • These weaknesses are balanced against the Cook Islands' strongly supportive relationship with New Zealand and donor agencies, the sound performance and outlook for the key tourism sector, and its low government debt burden. • We are affirming the 'B+/B' sovereign credit ratings on Cook Islands. The outlook on the ratings remains stable. Rating Action On Feb. 3, 2017, S&P Global Ratings affirmed its 'B+/B' sovereign issuer credit ratings on the Cook Islands. The outlook remains stable. The Transfer & Convertibility assessment remains 'AAA'.

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pdfCook_Islands_Primary_Credit_Analysis_3_February_2017-Report.pdf294.95 KB