January 11, 2018 / 10:59 AM / a year ago

Moody's not anticipating Angola defaulting on its debt

LUANDA, Jan 11 (Reuters) - Moody’s assumes that the Angolan government does not intend to default on its debt after ambiguous wording in official statements this month, the ratings agency said in a research report sent to media on Thursday.

Angola recently moved to a more flexible exchange rate regime and said it wanted to restructure some debt.

Moody’s added in its report that the exchange rate changes and the government’s desire to renegotiate debt underscored existing pressures on the southern African country’s credit ratings. (Writing by Alexander Winning; Editing by Joe Brock)

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