S&P revises Gabon to negative

Standard & Poor's said it revised its outlook on the Gabonese Republic to negative from stable and affirmed its long- and short-term foreign and local currency sovereign credit ratings at B+/B.

The ratings reflect the agency’s assumption that the Gabonese economy will continue to grow at a sustainable pace over the forecast period, despite lower oil prices.

S&P expects a deterioration of Gabon’s fiscal and current account balances, however, and a significant increase in public debt.

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