Credit outlook |

Moody’s downgrades Mozambique government rating to B2

MAPUTO, Mozambique (Capital Markets in Africa) — Moody’s Investors Service has today downgraded Mozambique’s government issuer rating to B2 from B1 and changed the outlook to negative. The key driver for Moody’s decision to downgrade Mozambique’s rating to B2 is the underperformance of its fiscal and debt metrics vis-à-vis peers which is expected to continue over the medium-term. The negative outlook reflects uncertainties over the government’s strategy for covering its increasing external debt payments in…

Moody’s says Kenya B1 rating reflects robust growth potential balanced

Posted on by The Editorial Team

Nairobi, Kenya (Capital Markets in Africa) — Kenya’s B1 rating and stable outlook reflect the country’s robust growth potential, its leadership role in the East African region and its commitment to structural reforms, Moody’s Investors Service said in a report published today. These advantages are balanced against Kenya’s weak, although strengthening institutions, large twin (government and current account) deficits and national security challenges. The decentralization of the government introduced in the 2010 constitution has helped…

Moody’s assigns A1.za debt rating to Ekurhuleni’s (EMM06) ZAR900 million notes due 2025

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Johanessburg, South Africa (Capital Markets in Africa) — Moody’s Investors Service has today assigned a long-term debt rating of A1.za (South African national scale rating) to Ekurhuleni Metropolitan Municipality’s ZAR900 million senior unsecured amortising fixed-rate notes due 2025. These notes are issued under Ekurhuleni’s ZAR8 billion Domestic Medium Term Note programme rated A1.za and will be listed on the Johannesburg Stock Exchange. Proceeds from the notes will be used to finance the city’s infrastructure requirements….

Moody’s affirms BMCE’s deposit ratings; changes the outlook to stable from negative

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Casablanca, Morocco (Capital Markets in Africa) — Moody’s Investors Service has today affirmed and changed the outlook to stable from negative on the Ba1 long-term local-currency deposit rating and senior unsecured debt rating of BMCE Bank. Concurrently, Moody’s affirmed BMCE’s ba3 baseline credit assessment (BCA), its Ba2 long-term foreign currency deposit rating, the short-term local and foreign-currency Not-prime ratings and its B1 foreign subordinate debt rating. In light of the revised bank rating methodology, published…

Ethiopia’s favourable growth prospects and low debt burden support B1 rating says Moodys

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Addis Ababa, Ethiopia (Capital Markets in Africa) :- Ethiopia’s (B1 Stable) government bond rating is supported by its strong growth prospects, prudent fiscal management and large and stable donor inflows, Moody’s Investors Service says in its latest credit analysis of the country today. However, Ethiopia’s relatively small economy, low per capita income and weak institutional strength all constrain the rating. The report is now available on www.moodys.com. Moody’s subscribers can access this report via the link…

Moody’s Affirms Zambia’s B1 Sovereign Rating, Changes Outlook to Negative

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Lusaka, Zambia (Capital Markets in Africa) — Global rating agency Moody’s has downgraded Zambia’s economic outlook rating from stable to negative on account of deteriorating debt metrics,” as evidenced by a rapidly rising debt burden and increasing debt servicing costs” amongst other drivers. In a statement, Moody’s observed that there was a trend of missed fiscal targets that point to high execution risks for the current deficit reduction plan to arrest the upward debt trajectory,…

Moody’s: Mauritius’s diversified and resilient economy support rating; fiscal challenges

Posted on by The Editorial Team

Port Louis, Mauritius (Capital Markets in Africa) — Mauritius’s small yet diversified economy, good record of attracting investment and its resilience against external shocks underpin its Baa1 (Stable) government bond rating, Moody’s Investors Service said in its latest credit analysis of the country published this week. The Mauritian authorities’ key challenges are to continue to foster domestic and foreign investment, maintaining the country’s financial stability and consolidating the public finances to help meet its government…

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