OVERVIEW Angola's large oil revenues will continue to support low fiscal and external debt burdens and help offset institutional weaknesses, political succession risk, and a lack of development outside the oil sector. We expect the impact from Banco Espirito Santo de Angola (BESA) on macroeconomic stability to be limited. We are therefore affirming our long- and short-term foreign and local currency sovereign credit ratings on the Republic of Angola at 'BB-/B'. The stable outlook balances what we view as Angola's strong growth potential against institutional weaknesses that risk disrupting macroeconomic stability. RATING ACTION On Aug. 15, 2014, Standard&Poor's Ratings Services affirmed its long- and short-term foreign and local currency sovereign credit ratings on the Republic of Angola at
