Moody's: Papua New Guinea view stable

Moody's Investors Service said Papua New Guinea's B1 government bond rating is enjoying good support from three crucial factors, but the outlook remains stable given the country's considerable political, social and economic challenges.

The ratings are supported by the country's large natural resource base, which has in recent years underpinned a strong balance of payments performance, Moody's said. The ratings also consider its

Low level of external debt and the improving state of government finances, the agency said.

The rating remains constrained by the country's low level of development, governance problems and the volatility evident in export earnings, Moody's said.

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