S&P Global assigns Sky Protocol a “B-” credit rating

S&P Global has given a "B-" credit rating to USDS issuer Sky Protocol. According to Sky, this is the first time this rating agency has issued a credit rating for a stablecoin system. According to the official S&P website, a B rating means that the entity is more susceptible to adverse business, financial, and economic conditions, but currently still has the ability to fulfill financial obligations.