Moody's Investors Service has today placed the Government of Angola's Ba2 government bond and issuer ratings on review for downgrade.
The purpose of the ratings review is to assess the extent of the impact of the further sharp fall in oil prices, which Moody's expects to remain low for several years, on Angola's economic performance and balance sheet in the coming years. As part of the review, Moody's will in particular assess the credibility and sustainability of the government's plans and their ability to mitigate the impact of the lower oil price on Angola's credit standing.
Moody's expects to complete the review within two months.
