Moody’s: Mauritius remains an investment grade country
On 28 July 2022, Moody’s Investors Service (Moody’s) reviewed Mauritius’ long-term foreign and local currency issuer ratings to Baa3-Stable Outlook (June 2021: Baa2-Negative Outlook).
Despite the downgrade, Mauritius retains its Investment Grade status amid sharp slowdown in global economic growth and rising inflation. It is to be noted that Mauritius is the only International Financial Centre of Africa to have retained its Investment Grade status and that it is the one of the only 2 countries in Africa to retain this status.
The Stable Outlook reflects expectations that Mauritius' credit profile will remain aligned with Baa3-rated sovereigns and that headline fiscal and debt metrics will further improve. According to Moody’s: “Mauritius's sizeable international reserves limit external vulnerability risk despite large current account deficits and provide a buffer to higher import prices”.
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