8 Aug 2012

Fiji's credit rating remainds unchanged

7:24 am on 8 August 2012

A recent update on Fiji's credit rating shows its position is unchanged, largely due to the political situation and lack of economic growth.

Fiji's credit rating remains at Negative B1, which indicates that adverse business, financial, or economic conditions will likely impair Fiji's ability to meet its financial commitments.

However, one of the Moody's Investors Service analyst, Christian de Guzman, says Australia' and New Zealand's announcement that high commissioners will again be exchanged with Fiji is positive.

"We believe that it is very important for the economy to receive foreign investments for one thing more tourists another and just generally more trade and we believe that the restoration of diplomatic relations between Australia and New Zealand and Fiji would actually help along those line."

Christian de Guzman says that the successful reform of Fiji's sugar industry could also help bring the country's credit rating up.