Fitch Affirms Lesotho at 'BB-'; Outlook Stable

April 24, 2015 8:06 PM

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(The following statement was released by the rating agency) LONDON, April 24 (Fitch) Fitch Ratings has affirmed Lesotho's Long-term foreign and local currency Issuer Default Ratings (IDR) at 'BB-'and 'BB', respectively.

The Outlooks are Stable. The Country Ceiling has been affirmed at 'A-' and the Short-term foreign currency IDR at 'B'. KEY RATING DRIVERS Lesotho's 'BB-' rating is supported by the local currency's peg against the South African rand, which has contributed to macroeconomic stability. GDP growth in th...

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