Credit rating agency Moody’s announced on October 13, 2020 that it had lowered Rwanda’s outlook from “stable” to “negative”, and confirmed the long-term issuer’s rating to “B2”. For the agency, this “negative rating” is justified by the risks generated by the coronavirus pandemic. The Covid-19 is indeed expected to have a lasting effect on certain sectors of the country’s economy, particularly transport and tourism, which will potentially reduce the return on previous public investments.

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