S&P trims Congo ratings

Standard & Poor’s said it lowered its long-term foreign and local currency sovereign credit ratings on the Republic of Congo to B from B+ and affirmed the short-term foreign and local currency sovereign credit ratings at B.

The outlook is stable.

S&P said that following a fall in crude oil prices in spot and futures markets of over 50% since June 2014, S&P has revised its oil price assumptions significantly downward for the period 2015-2018.

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