Standard & Poor's Ratings Service
High-risk takaful strategies cause for concern, says S&P
Wed, 2012-09-26 12:00 — newsdeskStandard and Poor’s is concerned about profitability in long term of Gulf takaful providers because they consider the investment strategies highly risky. On the other hand, according to forecasts, takaful contributions in the GCC region will grow much larger than premiums in the local conventional insurance industry in the following 12-18 months. Still, Standard and Poor's claims that it is not known for sure how many of the companies involved will maintain their long-term profitability.
More on: http://www.gulf-times.com/site/topics/article.asp?cu_no=2&item_no=533485...
S&P: Nigerian Outlook Revised To Negative As Falling Oil Receipts Test Government's Institutional Capacity; Ratings Affirmed
Sat, 2009-03-28 08:27 — IslamicFinance.dePress Release
LONDON (Standard & Poor's) March 27, 2009--Standard & Poor's Ratings Services today said it had revised its outlook on the Federal Republic of Nigeria to negative from stable. At the same time, the 'BB-' foreign currency and 'BB' local currency long-term sovereign credit ratings were affirmed. The 'B' foreign and local currency short-term ratings and the 'ngAA+' national scale ratings were also affirmed. The Transfer & Convertibility Assessment on Nigeria remains 'BB-'.
"The institutional policy response to the global economic downturn and the consequent sharp fall in the price of oil, on which Nigeria is overwhelmingly reliant, motivated our revision of the ratings outlook," Standard & Poor's credit analyst Ben Faulks said. "We believe the adverse terms of trade shock will hurt Nigeria's credit profile both on the fiscal and external side."
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