S&P’s Beers Says Era of Sovereign-Ratings Cuts Will Persist
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The era of sovereign-rating downgrades is likely to continue because of budget deficits and demographic pressures on public finances, Standard & Poor’s analyst David Beers said.
“We’re now in an era which I and my team think is going to persist for quite some time to come -- because of the coming demographic public-finance pressures which are looming before us as well -- where we do expect there will be continued falls in sovereign ratings,” Beer, S&P’s Global Head of Sovereign Ratings, said at an event in London today.