Angola Ratings Affirmed At 'B-/B'; Outlook Stable

Ratings: Foreign and Local Currency: B-/Stable/B For further details see ratings list. OVERVIEW We expect Angola's government debt stock to continue to rise in 2018 largely as a result of the devaluation of the kwanza at the start of 2018 and its subsequent depreciation, but also due to ongoing fiscal deficits. We forecast an average Brent oil price of close to $60 over 2018-2021, which will help narrow Angola's twin deficits over the medium term. We are therefore affirming our 'B-/B' long- and short-term sovereign credit ratings on Angola. The outlook is stable. RATING ACTION On Aug. 10, 2018, S&P Global Ratings affirmed its 'B-/B' long- and short-term foreign and local currency sovereign credit ratings on Angola. The outlook is

...OVERVIEW We expect Angola's government debt stock to continue to rise in 2018 largely as a + result of the devaluation of the kwanza at the start of 2018 and its subsequent depreciation, but also due to ongoing fiscal deficits. We forecast an average Brent oil price of close to $60 over 2018-2021, which will + help narrow Angola's twin deficits over the medium term. We are therefore affirming our 'B-/B' long- and short-term sovereign credit + ratings on Angola. The outlook is stable. + RATING ACTION On Aug. 10, 2018, S&P Global Ratings affirmed its 'B-/B' long- and short-term foreign and local currency sovereign credit ratings on Angola. The outlook is stable. OUTLOOK The stable outlook balances our expectation, over the next 12 months, that government reforms will support higher economic growth and government debt reduction...

Ratings Action