Fitch lifts Seychelles view to positive

Fitch Ratings said it revised Seychelles' outlook to positive from stable.

The agency also affirmed its long-term foreign-currency issuer default rating at B, long-term local-currency issuer default rating at B+, short-term foreign-currency issuer default rating at B and country ceiling at B.

The ratings reflect the relatively high value-added economy, favorable governance and investment environment, the agency said, and public and external debt burden that is broadly in line with peers.

The ratings are constrained by the relatively short-track record of macro-financial stability and a history of higher and more volatile inflation than most rating peers, Fitch said.

The outlook revision reflects the country's improving credit profile due to continued fiscal discipline, the agency said, along with expectations of on-going budget surpluses.

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