Fitch downgrade better than Moody's: Schlettwein

Contributed by NAMPA.

WINDHOEK, 21 NOV (NAMPA) – The downgrade of the long-term non-Rand foreign currency bonds to sub-investment grade BB+ from BBB- investment grade is better than an outlook assigned by Moody’s Investor Service in August this year, Minister of Finance Calle Schlettwein said.
Fitch Ratings’ sovereign rating model on Monday downgraded Namibia’s long-term foreign currency Issuer Default Rating (IDR) from BBB- to BB+ with a stable outlook.
This is according to the Namibia Country Risk Report, which foc ...