Agost Benard
Agost Benard
actual continued credit deficit downward drive increase numbers per processes ratings reduction trend trends underlying versus view
The downward trend in deficit reduction must be continued to warrant an upgrade. Something must be done to increase revenues and not in decreasing expenditures. Its underlying trends and processes that really drive our view on credit ratings versus the actual numbers per se.
among appears domestic fiscal general increased largest main pace reason slower terms trend
The main reason for a slower pace of issuance appears to be a general trend of increased fiscal consolidation by governments in terms of GDP (Gross Domestic Product), especially among some of the largest borrowers.
delays state subject until value
If you look at the state of the value-added-tax, it has been subject to a lot of delays and setbacks, so we won't know if it will be implemented until it happens,