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Moody's Cites Burma's 'Credit Positives'

2 May 2012

Moody’s, the credit rating agency, has called recent moves by the international community to relax sanctions on Burma and resume aid as “credit positives” for the country. In a note on Burma—which isn’t formally rated by the agency—Moody’s said on Monday that the EU’s decision to suspend most sanctions and Japan’s move to write off the country’s outstanding debt and resume full bilateral aid would help boost the country’s economic growth. However, further economic liberalization was badly needed to establish sovereign creditworthiness, The Financial Times reported.