Mass biodiversity loss would slash global credit ratings, report warns

Quick Summary

Malaysia's costs would rise between $1 to 2.6 billion, while it companies would need to cover additional $1 to 2.3 billion.

"More importantly, these two sovereigns would cross from investment to speculative-grade," the report said, referring to what investors usually dub a higher risk 'junk'-grade credit rating.

It estimated that the detrimental impact would result in 58 per cent of the 26 countries studied facing at least a one notch downgrade of their sovereign credit rating.

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Article Details

Category: Business

Topics: Downgrades Biodiversity Mediacorp Loss China Billion Ratings Collapse Additional University Credit

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-23, 08:10:10

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Reading Time: 3 minutes read

Article Length: 509 words

Coverage Area: Singapore

Availability: Desktop Web, Mobile Web

News ID: 4717

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Main Topics: Business

Official Website: channelnewsasia.com

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Year Established: 1999

Headquarters: Singapore

Last Updated: 53m ago

Coverage Areas: Singapore

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