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S&P lowers Mozambique sovereign credit rating to CC from CCC
9:31 CAT | 05 Nov 2016
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S&P Global Ratings:
* S&P – Lowers Mozambique sovereign credit rating to CC from CCC
* S&P – Mozambique government intends to restructure U.S. Dollar denominated fixed-rate notes maturing in 2023; expect restructuring to be tantamount to default
* S&P – A debt restructuring would allow Mozambique to reduce debt service payments on external commercial obligations in the short term
* S&P on Mozambique – Negative outlook reflects view that we will consider restructuring of its notes maturing in 2023 as tantamount to defaul
Source: Reuters
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