Moody's views Ivory Coast positively

Moody's Investors Service said it change the outlook for Cote d'Ivoire (Ivory Coast) to positive from stable and affirmed its Ba3 local- and foreign-currency long-term issuer ratings and foreign-currency senior unsecured ratings.

“The positive outlook reflects broad-based signs of improvements in Cote d'Ivoire's credit profile. Economic strength is increasing, supported by growing diversification and competitiveness. Moreover, Cote d'Ivoire's governance strength is also rising, with a lengthening track record of improving public finance management. If maintained, these improvements would contribute to a significant reduction in the debt burden and a strengthening of the overall credit profile which may lead to an upgrade,” Moody’s said in a press release.

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