Business News of Saturday, 6 August 2016Source: moodys.comMoody's assigns B2 to Cameroon with stable outlookMoody's Investors Service ("Moody's") has today assigned first-time local and foreign-currency issuer ratings of B2 to the Government of Cameroon. RATING OUTLOOKThe stable outlook balances rapidly increasing public and external debt levels with the improved potential growth trajectory from upgraded infrastructure provision. Moody's considers a rated entity or its agent(s) to be participating when it maintains an overall relationship with Moody's. The rated entity or its agent(s) generally does not provide Moody's with information for the purposes of its ratings process. Cameroon's oil production peaked in 1985 at over 180,000 barrels per day (bpd) and has been on a declining trend over the past decades due to depletion of mature oil fields, although new wells and recovery techniques for mature oil fields have temporarily boosted oil production, partially offsetting the impact of lower oil prices.

Source: CameroonWeb August 06, 2016 13:39 UTC