Fitch affirms Uganda

Fitch Ratings said it affirmed the Republic of Uganda's B long- and short-term foreign- and local-currency issuer default ratings and country ceiling.

The outlook for the long-term issuer default ratings is stable.

"Uganda's ratings are supported by a long track record of macroeconomic stability, characterized by impressive growth and single-digit inflation, coupled more recently with external debt relief which has significantly improved the dynamics of debt sustainability," Eral Yilmaz, associate director for Fitch, said in a written statement.

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