Moody's upgrades Benin

Moody's Investors Service said it upgraded the government of Benin's long-term issuer and senior unsecured debt ratings to B1 from B2 and changed the outlook to stable from positive.

The agency cited a healthy record of fiscal consolidation and debt structure improvements aided by strong financial management and robust growth prospects helped by ongoing structural reforms.

“The stable outlook reflects balanced risks around Moody's baseline expectation that the economy will return to robust growth and that Benin's fiscal and debt metrics will stabilize and comparatively improve over the medium term,” Moody’s said in a press release.

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