S&P Affirms Bangladesh's sovereign rating at 'BB-' as economy recovers

Global Rating agency Standard and Poor's (S&P) has affirmed Bangladesh's sovereign long term rating at "BB-" as it's resilient economy gradually recovers from the effects of th Coronavirus (Covid-19) pandemic.

The agency also affirmed short term "B" rating for South Asian economy. The outlook remains stable.

Bangladesh's economy is gradually recovering, although Covid-19 risks to fiscal and external metrics are likely to persist over the coming year.

"Bangladesh's resilient economy stands out against the sovereign's weak revenue generation capacity, which is likely to limit fiscal consolidation progress, S&P said in a statement.

"The stable outlook reflects our expectation that the