Moody’s revises Namibia view to negative

Moody's Investors Service said it changed the outlook on Namibia's Baa3 rating to negative from stable.

Concurrently, the agency affirmed Namibia's Baa3 long-term issuer and senior unsecured ratings.

Moody’s said the decision to change the outlook to negative reflects the following drivers: (a) Slower than expected fiscal consolidation in the current fiscal year and continued rise in public debt; (b) risks of further tightening in domestic funding conditions should fiscal slippages continue, resulting in higher debt servicing costs; and (c) protracted external vulnerability.

© 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.