Standard & Poor's (S&P) on Monday said its
downgrade of the United States would have an impact on the exports and liquidity positions of Asia-Pacific economies, but poses no immediate risk to their sovereign ratings.
US ratings downgrade hits Dalal Street Without specifically naming India, the global ratings agency said the potential longer term consequences of a weaker financing environment, slower growth and higher risk aversion were, however, some negative factors for Asia-Pacific
sovereign ratings .
It also warned that the ratings downgrade of US, along with the weakening sovereign credit-worthiness in Europe, were pointing towards "an increasingly uncertain and challenging environment ahead".
PERSPECTIVE: What S&P's rating cut means for India?
The agency said since the Asia-Pacific economies are dependent on exports to the US and Europe, some of the nations, like Thailand, Malaysia and Japan, are likely to "experience export-driven slowdown, either through weaker demand or lower export prices, or both."
Late on Friday, global ratings agency S&P downgraded its US sovereign rating to AA+ from AAA, with a negative outlook.
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