S&P affirms Zambia ratings

Standard & Poor's said it affirmed its B+/B foreign- and local-currency long- and short-term sovereign credit ratings on the Republic of Zambia.

The outlook is stable.

S&P's transfer and convertibility assessment for Zambia remains B+.

S&P said the ratings on Zambia are constrained by fairly low income levels, balance-of-payments vulnerability to swings in copper prices as copper accounts for about 80% of exports, and political risks.

The ratings are supported by promising investment and economic growth trends, a fairly strong external balance sheet, and a low general government debt burden, which also benefited from debt relief and the effect on nominal GDP of double-digit inflation in 2007-2009, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.