Moody's changes Mali outlook to stable

Moody's Investors Service said it changed the outlook to stable from negative and affirmed the government of Mali's long-term local- and foreign-currency issuer ratings at Caa2.

“The stabilization of the outlook is prompted by the settlement of all unpaid debt obligations including late-payment interest by the Malian government on Aug.12. This ultimately resulted in limited losses incurred by investors. This resolution of the default was only possible after the lifting of economic and financial sanctions, following the agreement reached on July 3, between the military-led government and the Economic Community of West African States (Ecowas) for a return to civilian rule,” Moody’s said in a press release.

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