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TEXT-Fitch revises Gabon's outlook to positive; affirms at 'BB-'
April 5, 2012 / 10:29 AM / 5 years ago

TEXT-Fitch revises Gabon's outlook to positive; affirms at 'BB-'

(The following statement was released by the rating agency)

Apr 05 - Fitch Ratings has revised Gabon’s Outlook to Positive from Stable and affirmed its Long-term foreign and local currency Issuer Default Ratings (IDR) at ‘BB-’ and Short-term foreign currency IDR at ‘B’. The Country Ceiling, which applies to all members of the Central African Monetary Zone (Communaute Economique d‘Afrique Centrale; CEMAC) is affirmed at ‘BBB-'.

The revision of the Outlook reflects the continuous reduction in the country’s public and external debt, efforts to diversify the Gabonese economy away from oil, and stabilisation of the political situation, as illustrated by the absence of troubles following the December 2011 parliamentary elections.

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