Moody’s trims Namibia

Moody's Investors Service said it downgraded the long-term issuer and senior unsecured ratings of Namibia to Ba2 and changed the outlook to stable.

The agency said the downgrade reflects further weakening in Namibia's debt position, despite ongoing fiscal consolidation, as growth remains weaker for longer than Moody's previously anticipated.

The stable outlook is underpinned by Namibia's relatively robust institutions and governance strength that supports creditworthiness, Moody’s said.

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