Moody's changes Angola outlook to negative

Moody's Investors Service said it affirmed Angola's Ba2 government bond rating and changed the outlook to negative from stable. The rating action does not affect Angola's foreign-currency country ceiling, which remains unchanged at Ba1 for bonds.

The agency said the negative outlook is driven by the downside risks stemming from the oil price decline to economic growth, government finances and the external payments position.

The rating affirmation is supported by Angola's intrinsic economic strength and the government's financial buffers, Moody’s said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.