Dagong maintains BB- credit rating for Bangladesh

Credit rating agency Dagong Global Credit Rating announced on Monday that it will keep both its local and foreign currency credit ratings for the People's Republic of Bangladesh at BB-, each with a stable outlook. Despite the adverse effects of domestic politics, the country's steady economy growth,low government debt burden, widening current account surplus and expanding foreign exchange reserves guarantee its ability to pay debts, said the agency. Dagong forecast Bangladesh will achieve a growth rate of more than 6.5 percent in the long term, which will enhance the country's wealth creation ability steadily. With the slowdown of fiscal spending, the agency estimated that Bangladesh's deficit rate will be 4.1 percent in 2013 and 3.9 percent in 2014.