S&P cuts Tether stablecoin rating to 'weak' on disclosure gaps

By Elizabeth Howcroft PARIS (Reuters) -S&P Global downgraded its rating of Tether, the world's largest stablecoin on Wednesday, citing an increase ​in higher-risk assets in its reserves and "persistent gaps in disclosure". Tether said it ‌"strongly disagrees with the characterization presented in the report" by S&P which said that it now rated ‌the company's token, known as USDT, as "5 (weak)", which is the lowest possible score, downgrading it from "4 (constrained)". Ratings agency S&P created a scale ...