Mozambique rating held at CC as Angola fiscal data upgraded to B

Fitch Ratings maintained Mozambique’s sovereign credit rating at ‘CC’, the second‑worst level on its scale, noting a high likelihood of default and the probable need for restructuring the country’s sole Eurobond. The agency warned that without a new programme with the International Monetary Fund, the risk of a repayment failure could rise, and it expects an IMF agreement to be reached by early 2027.

In a separate development, the International Monetary Fund upgraded Angola’s public‑finance statistics adequacy rating from ‘C’ to ‘B’ after the government adopted the GFSM 2014 framework. The upgrade reflects improved quality, transparency and international comparability of Angola’s fiscal data, providing a clearer view of revenue, expenditure, debt and related risks for investors and multilateral lenders.