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Monday, July 19, 2010 - 7.35 GMT
Medium term sovereign rating strategy

 
The Government has selected three leading international banks as Sovereign Rating Advisors for a period of four years starting July 2010 to assist and guide the Government to achieve its objective of attaining investment grade ratings by 2014.

The Hongkong and Shanghai Banking Corporation Ltd, Bank of America Merrill Lynch and The Royal Bank of Scotland PLC were selected as rating advisors for a period of four years.

In order to operationalize the above strategy towards enhancing the country’s sovereign rating, a dedicated Sovereign Rating Committee (SRC) was appointed by the Monetary Board in March 2010.

The SRC, having considered the objective of obtaining Sovereign Rating Advisory Services from the most reputed international institutions, had called proposals from the top ten leading banks and investment houses.





 
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Last modified: July 19, 2010.

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