The rating on Angola balances our view of Angola's strong oil revenues and low fiscal and external debt burdens against its political succession risk, institutional weaknesses, and lack of development outside the oil sector. We are affirming our long- and short-term foreign and local currency sovereign credit ratings on the Republic of Angola at 'BB-/B'. The stable outlook indicates that we see a less than one-in-three chance that we will raise or lower our ratings on Angola in the next 12 months. On Feb. 14, 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 'BB-/B'. The outlook is stable. The ratings on Angola are constrained
