Fitch Ratings has upgraded Angola’s Long-Term Foreign Currency Issuer Default Rating (IDR) to “B-“ from “CCC”, with Stable outlook. The agency cited significant improvement in the country’s fiscal and external position, continued commitment to sound fiscal management and higher oil prices as the main drivers for the positive ratings action. This follows similar ratings upgrade by Moody’s in Q3 last year. The Republic is now rated B3/Stable (Moody’s), B-/Stable (Fitch) and CCC+/Stable (S&P, review pending). Lion’s Head Global Partners acts as the International Financial Advisor to the Republic of Angola
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