Moody's rates Zambia B1

Moody's Investors Service said it assigned local and foreign currency issuer ratings of B1 to the Government of Zambia.

The outlook is stable.

Moody's said the ratings reflect: (a) Expectation of continued rapid growth, which should support economic diversification and over time increase the country's low wealth levels; (b) the country's track record of political stability, which benefits its developing institutional strength; and (c) Zambia's low albeit improved financial strength, following debt forgiveness from official creditors in 2006.

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