Zam­bia’s out­look sta­ble, says Moody

The Pak Banker - - Front Page -

LON­DON

Global rat­ing ag­necy Moody's to­day as­signed lo­ca­land for­eign-cur­rency is­suer rat­ings of B1 to the gov­ern­ment of Zam­bia. The out­look on these rat­ings is sta­ble.

The B1 rat­ings re­flect the fol­low­ing key fac­tors:

Ex­pec­ta­tion of con­tin­ued rapid growth, which should sup­port eco­nomic di­ver­si­fi­ca­tion and over time in­crease the coun­try's low wealth lev­els.

The coun­try's track record of po­lit­i­cal sta­bil­ity, which ben­e­fits its de­vel­op­ing in­sti­tu­tional strength.

Zam­bia's low al­beit im­proved fi­nan­cial strength, fol­low­ing debt for­give­ness from of­fi­cial cred­i­tors in 2006. At the same time, Moody's has as­signed Zam­bia a Baa3 lo­cal­cur­rency coun­try risk ceil­ing, which is the max­i­mum credit rat­ing achiev­able in lo­cal cur­rency for a debt is­suer domi­ciled in that coun­try. Moody's has also as­signed Zam­bia a Ba2 for­eign-cur­rency bond coun­try ceil­ing and a B2 coun­try ceil­ing for for­eign-cur­rency bank de­posits.

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