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Global sovereign ratings hit a low, S&P says

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Global sovereign ratings hit a low, S&P says

S&PGlobal Ratings said July 15 that the outlookon sovereign ratings worsened markedly over the last 12 months, suggesting thatthe future trend toward downgrades "may be even more pronounced than during2015 and 2016 to date."

Negativeoutlooks outnumbered positive outlooks by a total of 30 as at mid-2016, comparedto the seven-year high of just four in mid-2015, the rating agency said. It notedthat this constitutes the most negative 12-monthly swing in the outlook balancesince June 2009.

Aroundthe world, the number of AAA-rated sovereigns dropped to 12 by June 30 from 19 inDecember 2010 after S&P downgraded several countries in the eurozone, havingalready lowered the long-term rating on the U.S. to AA+ in 2011.

In June,S&P Global Ratings downgradedthe U.K. to AA from AAA, with a negative outlook, after the country voted to the EU.

S&P Global Ratings and MarketIntelligence are owned by S&P Global Inc.