Further falls in the price of oil could see exporting countries downgraded again
S&P swung the axe last year on a host of oil exporting sovereign countries and they're warning that they're ready to do so again after the prices plunged further
Head of EMEA sovereign ratings, Moritz Kramer fears the full implications for the drop in commodities;
"This is not the run of the mill commodities swing, this is something different altogether"
A fair few OPEC countries are on ratings watch and big exporters like Russia, and Saudi Arabia face being cut again but cuts could come en masse
While that's bad news alone for countries the reverberations will spread quickly down the chain to the financing world and that could see debt ratings lowered among lenders/producers. That could be the big tipping point for the whole commodity bloc, particularly oil
The clock's ticking folks
