Moody’s reviews Mozambique

Moody's Investors Service said it placed Mozambique's B2 government issuer rating on review for downgrade.

The review was driven by increased external pressures on the country's external position, its currency and its foreign exchange reserves.

The review will focus on the risk that these pressures intensify and cause further deterioration in the government's and country's external debt metrics.

Moody's also placed under review the B2 backed senior unsecured foreign-currency rating of Mozambique Ematum Finance 2020 BV (which takes the form of a $850 million loan participation note of which $774 million is outstanding, issued in September 2013 by a special purpose vehicle of the Mozambican fishing company Ematum). This change mirrors the review of the government of Mozambique's rating.

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