BRIEF-Moody’s says Mozambique’s Caa3 rating captures risk of sizeable losses for private creditors from default

Aug 31 (Reuters) –

* Moody’s: Mozambique’s Caa3 rating captures risk of sizeable losses for private creditors from default

* Moody’s on Mozambique – reflect expectations that ongoing default event will result in sizeable losses for private creditors

* Moody’s on Mozambique – negative outlook on rating reflects risks related to losses for private sector creditors

* Moody’s – forecasts that Mozambique’s GDP growth will rise to 4.7% in 2017 from 3.8% in 2016

* Moody’s on Mozambique – Mozambique’s government has not made payments on several debt instruments since the beginning of 2017, pending a restructuring

* Moody’s on Mozambique – the government’s track record of defaults indicates its low willingness to prioritise debt payments

* Moody’s on Mozambique – fiscal strength is assessed as being “very low (-)”, reflecting high, rising government debt levels

* Moody’s – forecasts that Mozambique has good long-term growth prospects

* Moody’s – Mozambique government may seek to impose larger losses to private creditors, which would increase likelihood of IMF being willing to provide financial support Source text: bit.ly/2xzXaIc

Source
Reuters: Mozambique News




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