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S&P boosts Mozambique
S&P said it raised its local-currency sovereign rating for Mozambique to CCC+ from SD, selective default. The agency affirmed the CCC+ long-term foreign-currency rating.
The upgrade follows the government making the required payments on its commercial bonds that were due from February to May, S&P said.
“The government resolved payment delays on its LC debt and is reportedly current on all its obligations,” S&P said in a press release.
The outlook is stable.
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