25 Apr 2014

Standard & Poor upgrades Fiji's rating to positive

4:46 am on 25 April 2014

The credit rating agency Standard and Poors says it has revised Fiji's rating outlook from stable to positive.

The agency also says it has affirmed foreign and local currency issuer credit ratings at BB.

A credit analyst, Craig Michaels, says the revised outlook reflects the agency's expectation that Fiji can sustain its economic growth at a rate that is broadly in line with countries of similar per capita income levels.

Mr Michaels says Fiji's transition to democratic rule, if successful, and continued economic reforms should support sound growth.

However, he says a smooth transition is not assured and there are a number of possible scenarios that could dampen Fiji's economic growth prospects, including political instability.