Fitch rates Rwanda

Fitch Ratings said it assigned the Republic of Rwanda foreign and local currency issuer default ratings of B- with a positive outlook.

At the same time Fitch assigned a short-term rating of B and a country ceiling of B-.

The ratings are supported by Rwanda's good track record of macroeconomic management and reforms resulting in strong growth, the agency said, noting that they also reflect the receipt of substantial debt relief under the Highly Indebted Poor Countries debt relief initiative in 2005 and the Multilateral Debt Relief Initiative in 2006.

Substantial donor aid flows are supporting the country's development efforts, Fitch said.

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