Fitch affirms Mozambique

Fitch Ratings said it revised the outlook on Mozambique's long-term foreign currency issuer default rating to positive from stable and affirmed the rating at B.

Fitch said that it has simultaneously affirmed Mozambique's long-term local currency issuer default rating at B+ with a stable outlook and the short-term issuer default rating at B and country ceiling at B.

The revision of Mozambique's outlook to positive reflects the country's track record over the past decade of prudent economic policies and strong economic growth, coupled with prospects for accelerated growth supported by natural resource development, the agency noted.

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