Fitch downgrades Namibia’s credit rating from stable to negative

Contributed by NAMPA.

WINDHOEK, 22 FEB (NAMPA) – The United States of America’s Fitch credit rating agency has downgraded Namibia’s credit risk outlook from stable to negative.
The rating released on 21 February 2019, affirmed Namibia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BB+’.
The agency said the revised rating to negative reflects Namibia’s weak growth performance and the agency’s downward assessment of growth prospects with adverse implications for the government’s ability to stabilise the p ...