Moody’s and S&P turn Togo sovereign outlook positive
By the AFREEQUE newsroom, based on 24 Heure Info
Moody’s and S&P Global Ratings have raised Togo’s sovereign rating outlook from “stable” to “positive”, while maintaining their respective ratings (B3 and B+). According to the Togolese government, the signal reflects the country’s growth, debt management and business climate reforms, with an upgrade possible within 12 to 18 months.
Rating agencies Moody’s and S&P Global Ratings have raised Togo’s sovereign rating outlook from “stable” to “positive”, while maintaining their respective ratings at B3 and B+. A positive outlook opens the possibility of a rating upgrade in the next 12 to 18 months if current trends continue, reports 24 Heure Info.
The Togolese government attributes the change to economic growth, diversification of debt financing sources, cost control and stronger fiscal discipline. The agencies are also taking into account reforms aimed at improving the business climate, as well as the role of the Port of Lomé as a regional logistics hub, according to 24 Heure Info.
The decision comes amid uncertainty in the global economy, notably the oil shock and tighter financing conditions. The Togolese government says it intends to continue reforms to consolidate macroeconomic stability, preserve the sustainability of public finances and strengthen the country’s attractiveness to investors, reports 24 Heure Info.
