From Macauhub

Credit rating agency Standard and Poor’s (S&P) lowered its outlook on Mozambique’s economy from stable to negative, according to a statement issued Friday.

S&P’s explanation for this downward review is that data showed that Mozambique’s current account deficit is bigger than previously estimated.

The agency maintained its “B+” rating on long term debt and “B” on short term debt issued in both national and foreign, but warned it may lower those ratings in future.

Read more at macauhub.com