Angola’s state debt has similar rating to that of Nigeria

30 March 2010

Lisbon, Portugal, 30 March – South Africa’s FirstRand Bank has given Angola’s public debt a rating of “BB-“, in a statement sent recently to its customers, Portuguese financial daily Diário Económico reported.

The Angolan rating, according to FirstRand is a result of “a strong external position, a stable political environment and offering good potential growth on investment in the country.”

Despite this rating having no official value, as only official ratings agencies are permitted to rate teh credit risk of countries and companies, it is still a sign for investors.

On Monday, the research department of the Rand Merchant bank (RMB) said that official ratings agency Standard and Poor’s is expected to give Angola’s debt a “similar or better rating than that of Nigeria’s sovereign debt (B+) in the next month.” (macauhub)