2010年09月01日
MENA(中東・北アフリカ)22カ国のソブリン格付け(2010年8月版)(3)
(注)本稿はHP「マイライブラリー」に一括掲載されています。
(MENAなんでもランキング・シリーズ その6)
4.各国の格付け状況(続き)
(5)クウェイトMoody's :Aa2、S&P:AA-(stable)、Fitch:AA(stable)
3社とも格付けは投資適格の上から2番目(AaまたはAA)である。S&Pは相対的な強さはマイナスであるが3社の評価は殆ど変わらない。また前回格付けがそのまま維持されており、クウェイトの格付けは安定している。
(6)レバノン Moody's :Ba3、S&P:B(positive)、Fitch:B(stable)
3社ともレバノンに対しては非投資適格(投機的)の評価であり、これは格付けされたMENA諸国の中で最も低い。このうちMoody’sは非投資適格の最上位、S&PとFitchは2番目であり、3社の中ではMoody’sの評価が高い。
前回格付けと比較するとMoody’sはB1からBa3に、またFitchもB-からB(stable)に上方修正している。さらにMoody’sは前回に続き1年間で2回格上げしており、S&Pは前回B-からBへと同一格付けのなかで上方修正を行った。このように最近レバノンに対する評価が上がっており、同国が安定と成長を取り戻しつつあることを裏付けている。この点ではイスラエル、ヨルダン、エジプトが格付けを下げていること(上記参照)と対照的である。
(7)リビア S&P:A-(stable)、Moody’s及びFitchは格付けなし
リビアは3社の中で唯一S&Pのみが格付けをおこなっている。S&Pの格付けも前回から始まったものである。同国は経済制裁解除後、石油・ガス鉱区が外国企業に開放され、日本企業も探鉱事業に乗り出している。これらの経済開発に伴い資金需要が高まっており、格付け付与はリビアへの資金流入が活発化する契機になると考えられる。同国の格付けA-は投資適格の格付けでMENAの中では湾岸産油国に次ぐ評価であり、イスラエル、バハレーンと同じ水準である。
(8)モロッコ Moody's :Baa2、S&P:BBB-(stable)、Fitch:BBB-(stable)
三社とも投資適格の中では最も低いBaa又はBBBの評価である。前回の評価と比較するとMoody’s及びFitchは前回のままであるが、S&Pは同じカテゴリーであるがマイナス記号がつけられ格付けが下がっている。
(9)オマーン Moody's :Aa2、S&P:A(stable)、Fitch:格付けなし
Moody's 及びS&Pはオマーンを投資適格と評価しているが、Fitchは格付けをしていない。Moody’sは同じカテゴリーであるが前回のAa3から今回はAa2に上方修正されている。
(10)カタール Moody's :Aa2、S&P:AA(stable)、Fitch:格付けなし)
Moody's 、S&Pとも投資適格の上から2番目の格付けである。GCCのうちバハレーンを除く湾岸産油国はいずれも格付けAaである。S&Pは前回のAA-から今回はAAにランクアップしている。
(11)サウジアラビア Moody's :Aa3、S&P:AA-(stable)、Fitch:AA-(stable)
3社とも投資適格である。但し同じGCC産油国のUAE、カタールがAa2(Moody’s)及びAA stable(S&P)であることに比べ若干評価が低い。3社とも前回以降格付けに変化は無い。
(12)チュニジア Moody's :A3、S&P:BBB(stable)、Fitch:BBB(stable)
3社とも投資適格であるがMoody’sの評価が1ランク高い。前回格付けと比較するとS&PはA-からBBBに落ちている。Moody’s及びFitchに変化は無い。
(13)トルコ Moody's :Ba1、S&P:BB(positive)、Fitch:BB+(stable)
3社とも非投資適格の格付けであり、MENA13カ国の中ではレバノンについで低い。同国はMENAの中でも外国からの投資が多く、合弁事業の数も多いにもかかわらず評価はかなり厳しい。この点から見ると、金融面では外国の金融機関がトルコ政府に厳しい見方をしているのに対し、産業面では外国企業がトルコを合弁事業の相手として評価していると言えよう。
今年1月と比較するとS&Pが同じBBではあるがstable からpositiveに改訂されている。これは同国が投資適格のBBBにランクアップされる可能性を示しており、今後の安定性、成長力を評価しているようである。
(14)UAE Moody's :Aa2、S&P:AA(stable)(アブダビが対象)、Fitch:格付けなし
Moody’sのUAEに対する評価Aa2はクウェイト、カタール、オマーンと同じであり、MENAの中ではイスラエルのAa1に次ぐ高い格付けである。なおS&Pの格付けはアブダビ首長国を対象としたものである。
(続く)
本稿に関するコメント、ご意見をお聞かせください。
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You ought to peek at Yahoo's front page and watch
how they create post titles to grab people interested.
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confiança.

eventos paralelos, voltados a fim de redes de fast fashion e grandes produtores
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em sua saúde, porque programa é 100% originário.

que você saiba alguns do imagens não estão carregando corretamente .
Não sei porquê, mas eu acho que é uma questão de
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ambos mostram a mesma resultado.










