Fitch ups Cape Verde outlook to positive

Fitch Ratings said it changed Cape Verde's outlook to positive from stable.

The agency said that the long-term foreign and local currency issuer default ratings are affirmed at B+ and BB-, respectively.

The country ceiling is affirmed at BB- and the short-term foreign currency issuer default rating at B, Fitch added.

"Growth has been rapid, the debt burden has fallen and the exchange rate peg is looking more secure," explained Charles Seville, associate director in Fitch's sovereign and international public finance group. "If these trends continue, Cape Verde is capable of advancing to the next rating level."

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