Financial rating agency Fitch Ratings has maintained Angola’s rating at B-, with a stable outlook, balancing high inflation and elevated debt with robust international reserves and a current account surplus.
“Angola’s rating reflects weak governance indicators, high inflation relative to its peers, high levels of public debt in foreign currency, and one of the greatest levels of commodity dependence” among the countries assessed by Fitch, the analysts wrote, as cited by Lusa.
In the note accompanying the decision to maintain the sovereign credit rating at B-—below investment grade—the agency highlights, on the other hand, that “current account surpluses and international reserves are above the median of its peers, which provides some protection against lower oil prices and still-low concessional financing.”
Source: Líder Magazine
