October 20, 2017 / 8:52 PM / a year ago

BRIEF-‍Moody's downgrades Angola's ratings to B2, outlook stable​

Oct 20 (Reuters) -

* ‍Moody’s downgrades Angola’s ratings to B2, outlook stable​

* ‍Moody’s says downgraded long-term issuer and senior unsecured ratings of government of angola to B2 from B1, changed outlook to stable from negative​

* ‍Moody’s says affirmed angola’s short-term issuer ratings at not prime​

* Moody’s says lowered Angola’s foreign-currency bond ceiling to B1 from BA3, the foreign currency deposit ceiling to B3 from B2

* ‍Moody’s, on Angola, says economic activity will be constrained by lower levels of government spending than before and a weak banking system​

* Moody’s says also lowered Angola’s local currency bond and deposit ceilings to BA2 from BA1‍​

* ‍Moody’s on Angola’s outlook says growth likely to remain positive as oil sector is likely to grow moderately till 2022 supporting a gradual recovery​ Source text for Eikon:

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