Democracy battle scares rating firms | South China Morning Post
  • Sat
  • Feb 28, 2015
  • Updated: 5:04am

Democracy battle scares rating firms

PUBLISHED : Thursday, 06 May, 2004, 12:00am
UPDATED : Thursday, 06 May, 2004, 12:00am

The struggle over democracy is sharpening concerns about the government's ability to reduce the budget deficit, credit rating agencies said yesterday.


Standard & Poor's and Moody's Investors Service said they were worried that pro-democracy parties might capitalise on growing public discontent to hinder the government as it tried to bring in unpopular deficit-fighting measures such as a sales tax.


The statements mark a shift from last year, when the agencies focused on government finances in light of the sluggish economy.


Full report - A2


Share

For unlimited access to:

SCMP.com SCMP Tablet Edition SCMP Mobile Edition 10-year news archive
 
 

 

 
 
 
 
 

Login

SCMP.com Account

or