Moody’s might cut Mozambique

Moody's Investors Service said it placed Mozambique's Caa1 government bond and issuer ratings on review for downgrade.

The purpose of the review is to assess the consequences for debt holders of recent revelations of previously unreported public external debt denominated in foreign currency. In particular, the review will allow Moody's to assess the likelihood that a restructuring of debt issued or guaranteed by the government of Mozambique will take place in order to attempt to alleviate pressures on its finances and the country's external position or to allow the government to retain access to multilateral and bilateral facilities.

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