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

S&P Global Ratings downgrades Tether to '5 (weak)' Tether says it disagrees with S&P report S&P says Tether has raised holdings of bitcoin, gold

PARIS, Nov 26 (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)".