Global ratings agency Fitch on Friday upgraded the Republic of Congo’s long-term local-currency rating to “CCC+” from “CCC” and affirmed its foreign-currency rating, citing improved regional financing conditions and a smoother debt repayment profile.
The move comes as Brazzaville, under President Denis Sassou Nguesso, has been working to consolidate peace and diversify the economy.
Nguesso won a tightly controlled election in March, securing more than 94% of the vote to extend his nearly 42 years in power.
Fitch said the rating is supported by reduced near-term rollover risks, improving growth prospects driven by oil and gas sector expansion, as well as steadily declining government debt and fiscal surpluses.
The agency expects government debt to fall to 80.9% of gross domestic product in 2026 from 92.1% at the end of 2025, supported by fiscal surpluses and strong nominal growth.
However, the agency held the country in junk territory, citing weak public financial management, high oil dependence and recurrent arrears as continuing constraints on the rating.
Fitch affirmed the country’s long-term foreign-currency rating at “CCC+”.
–Reuters–
