Moody’s assigns Ba2 to Angola bond

Moody's Investors Service said it assigned a long-term provisional Ba2 rating to the forthcoming bond to be issued by the Government of Angola.

The obligation is a senior unsecured bond issue and ranks pari passu with all current and future senior unsecured debt of Angola.

Moody’s said the provisional rating on the forthcoming senior unsecured bond issue is aligned with the Government of Angola's Ba2 issuer rating, which reflects the country's limited institutional capacity and vulnerability to oil price volatility, but is supported by the economy's robust medium-term growth prospects and the strength of the government balance sheet.

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