Fidelidade - the Group to which Fidelidade Ímpar belongs - was considered the second best insurer in Europe and the fourth best in the world in terms of sustainability. This ranking was awarded by Morningstar Sustainalytics, an international benchmark company that has been producing a global sustainability ranking for over 30 years. In all...
Financial rating agency Moody's decided on Tuesday to keep Angola's rating at 'B3' and the outlook positive, reflecting the government's efforts in the area of public finances and exchange rate management. "Moody's decision to keep the outlook positive reflects the government's efforts to restore public finances and...
The financial rating agency Standard & Poor's has decided to keep Mozambique's rating at 'C', with a stable outlook, considering that there are still risks of delays in debt payments in local currency. "The government is implementing measures to avoid these delays in payments and progress in fiscal consolidation is underway,"...
Oxford Economics believes that stability in Cabo Delgado province and the implementation of the anti-corruption strategy will be fundamental for Mozambique to improve its rating on the credibility of sovereign credit issues. Analysts from the African department of British consultancy Oxford Economics said today that "for Mozambique to substantially reduce the risks on...
Financial rating agency Moody's on Tuesday downgraded 10 small and medium-sized banks in the US, leaving another six on review, while revising the outlook for 11 more financial institutions. "The second-quarter results of many banks revealed growing profitability pressures that reduce their ability to generate...
The government said on Tuesday that the downgrade of the country's rating was due to the pressure caused by the state wage reform, which has since been corrected, maintaining the conditions to service its debt. "The recent assessment of the country's rating was based on a retroactive framework, especially in the first months of the year, a period in which the impact...
The recent downgrade of Mozambique's rating by Standard & Poor's shows that the country's credit still has "substantial risk" due to debt and poor governance, among other factors, Oxford Economics Africa said yesterday. Oxford Economics Africa analysts, quoted by Lusa, wrote that: "although Mozambique's rating...
Financial rating agency Standard & Poor's has raised Mozambique's rating to CCC+, after placing the country in Selective Default for a day, "to signal that there were payment defaults" earlier this year. "Unfortunately, Mozambique did not have a grace period in the rules for domestic debt issues; if they are...
The financial rating agency Fitch Ratings will review the CCC rating criteria for 11 countries, including Mozambique, and may maintain, raise or lower the rating by one level in the next six months. "Fitch Ratings has placed Mozambique's CCC `rating` and debt instruments under Criteria Watch,"...
The Moody's rating agency on Friday improved the outlook for the Mozambican economy, from Stable to Positive, but maintained the rating at Caa2, the fourth worst level of sovereign credit analysis, and that implies a "very high credit risk. According to a note released by the rating agency, cited by...