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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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