S&P lifts Mozambique to B+

Standard & Poor's said it raised its long-term sovereign credit rating on the Republic of Mozambique to B+ from B. The short-term sovereign credit rating remains unchanged at B.

The outlook is stable.

The agency said the upgrade reflects Mozambique's track record of strong growth of 8% (on average) between 2000 and 2007 and ongoing strong donor support, which has served as a policy anchor and underpinned domestic and external liquidity.

The ratings remain constrained by large fiscal imbalances and a low level of economic development, S&P added.

© 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.