...The credit profile of Mauritius reflects its dynamic and reasonably diversified economy, which, along with a stable and investment-friendly business environment, has historically supported stable growth rates. The government has a track record of sound economic policy, and has demonstrated a high degree of adaptability to changes in the external environment, which supported economic growth and diversification, and higher per capita income. Robust institutions and governance help attenuate Mauritius' exposure to environmental risks. Mauritius' main credit constraints stem from a relatively high government debt burden and high dependence on tourism. Notwithstanding the government's efforts to the diversify the economy, including the development of an offshore financial sector, its small size and high openness to trade make it vulnerable to external shocks. The stable outlook incorporates our view that the headline fiscal and debt metrics will further improve, with the debt burden falling...