Angola | - Part 13

Moody’s affirms Angola Ba2 ratings, changes outlook to negative

London, 03 March 2015 — Moody’s Investors Service has today affirmed Angola’s Ba2 government bond rating and changed the rating outlook to negative from stable. The short term ratings remain unchanged at Not Prime. Key drivers for today’s decision include: The rating affirmation at Ba2 is supported by Angola’s intrinsic economic strength and the government’s financial buffers. The negative rating outlook is driven by the downside risks stemming from the oil price decline to economic…

Moody’s change Banco Angolano de Investimentos’ Ba3 deposit ratings to negative from stable

Posted on by The Editorial Team

Limassol, March 04, 2015 — Moody’s Investors Service has today changed the outlook to negative from stable on the Ba3 deposit ratings of Banco Angolano de Investimentos, S.A. Concurrently, Moody’s affirmed the bank’s Ba3 deposit ratings and E+ standalone bank financial strength rating (BFSR), which is equivalent to a b1 baseline credit assessment. The E+ BFSR maintains a stable outlook. The rating action on Banco Angolano de Investimentos follows the change in the outlook to…

Drop in oil prices to impact Angolan public finances

Posted on by The Editorial Team

Business Monitor International (BMI) projected real GDP growth in Angola to decelerate from 4.1% in 2014 to 3.8% in 2015, assuming an average global oil price of $55 per barrel. It said that the non-oil economy has been the main engine of activity in recent years, but most of the growth has been indirectly underpinned by oil revenues channelled through government spending. As such, it expected cuts in government spending on the back of lower…

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