S&P revises Congo outlook to negative

Standard & Poor's said it revised its outlook on the long-term foreign and local currency sovereign credit ratings on the Democratic Republic of Congo to negative from stable.

The agency affirmed the long- and short-term sovereign credit ratings at B-/B and revised the transfer and convertibility (T&C) assessment to B- from B.

S&P said the negative outlook reflects its view that external vulnerabilities could increase more than it currently expects or that political tensions could rise in the run up to the elections, causing institutional and economic disruption over the next 12 months.

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