Fitch affirms Seychelles at BB- Outlook Stable
September 18, 2023
Fitch Ratings has affirms Seychelles' long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BB-' with a Stable Outlook.
In a press release issued on Friday 15th September, the rating firm explained Seychelles' 'BB-' rating is supported by relatively high income levels (2x the peer median), strong World Bank Governance Indicators, support from multilateral creditors, and stable policymaking. These strengths are balanced by the economy's exceptionally high concentration in the tourism sector, which heightens vulnerability to external shocks, and medium- to long-term risks associated with climate change.
For more read the full press release below.