Video: Moody's downgrades Uganda rating to B2, outlook stable - CNBC Africa

Moody's downgrades Uganda rating to B2, outlook stable

3 views

Moody's Ratings has downgraded Uganda from B1 to B2, but changed the outlook from negative to stable. The agency noted the key driver of its downgrade is the sustained erosion of fiscal strength that has occurred since the rating was assigned in 2013. Elsewhere, British private equity firm Actis has sold its remaining 14.3 per cent stake in Uganda's sole power distributor, Umeme Limited, to investors including a local pension fund, allowing its shares to resume trading. Salima Nkiboneka, Head of Research and Fixed Income, Crested Capital joins CNBC Africa for more.

Comments