Moody's changes outlook on Bosnia's B2 ratings to negative from stable.

By bne IntelliNews May 17, 2011
Moody's Investors Service changed the outlook on the B2 government ratings of Bosnia and Herzegovina to negative from stable, citing the ongoing political stalemate and related delays in economic and constitutional reform, the agency said in a news release. Additionally, Moody's has placed a negative outlook on Bosnia and Herzegovina's Ba3 ceiling for foreign-currency debt and its B3 ceiling for foreign-currency bank deposits. The negative outlook is prompted by the heightened tensions between the country's three main ethnic groups, which have produced a political stalemate and prevented the formation of a state-level government more than seven months after last October's election; the related delays in economic and constitutional reforms and the increasing risk of a further splintering of the country, which could lead to an interruption in debt-service payments on the county's bonds, Moody's explained.
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