Namibia’s junk status remains – The Namibian

THERE is doubt that Namibia would regain a positive investment grading, following Fitch Ratings maintaining the country’s rating at junk status.

Analysts said this is because the economy is still faced with hardships, from both the domestic and global front. In November last year, the ratings agency downgraded the country’s credit rating from BBB- to BB+…

Economic Association of Namibia’s research associate Klaus Schade agreed that the current review maintains the 2017 rating, and thus remains one notch below the investment grade of BBB-. “Earlier in May and July, Fitch affirmed the ratings for the Development Bank of Namibia at BB+ with a stable outlook as well as the rating for NamWater respectively. In general, institutions cannot be rated better than the overall country rating,” he said…