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Published on 8/11/2017 in the Prospect News Emerging Markets Daily.

Moody’s downgrades Namibia

Moody's Investors Service said it downgraded Namibia's long-term senior unsecured bond and issuer ratings to Ba1 from Baa3 and maintained the negative outlook.

Moody’s said the key factors for downgrading the rating are: (a) Erosion of Namibia's fiscal strength due to sizeable fiscal imbalances and an increasing debt burden; (b) limited institutional capacity to manage shocks and address long-term structural fiscal rigidities; and (c) risk of renewed government liquidity pressures in the coming years.


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