FRANKFURT (Standard&Poor's) April 16, 2013--Standard&Poor's Ratings Services said today that it had assigned its 'B' long-term issue rating to the Republic of Rwanda's proposed bond. We understand the proceeds of this senior unsecured debt will be used for the repayment of loans in relation to the Kigali Convention Center and the RwandAir strategic development plan, as well as for financing the completion of the Kigali Convention Center. The ratings on the Republic of Rwanda (B/Stable/B) are constrained by its low per capita income, estimated at around $640 in 2012. Despite almost tripling since 2000, this is still lower than that of its peers. Structural current account deficits that reflect its narrow and volatile export base further
