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Obbligazioni societarieHIGH YIELD e oltre, verso frontiere inesplorate - Vol. 2
Ghana's improving banking sector stability and lower inflation support
our view that the effectiveness and transmission mechanism of its
monetary policy have improved.
We are therefore raising our long-term ratings on Ghana to 'B' from 'B-'.
We are affirming the short-term foreign and local currency sovereign
credit ratings at 'B'.
We forecast that Montenegro's economy will expand by 3.5% this year
following a 4.3% increase in output in 2017.
Although fiscal performance in the first half of 2018 fell short of the
government target, we project broad fiscal consolidation to continue,
with net general government debt levels declining from a peak of 65% of
GDP next year.
We are affirming our 'B+/B' ratings on Montenegro.
RATINGS
Foreign Currency: BB-/Stable/B
Local Currency: BB-/Stable/B
For further details see Ratings List.
OVERVIEW
Domestic political instability in Macedonia has receded over the last
year, but uncertainties remain, including from the upcoming referendum on
the country's name at the end of September.
In line with our previous expectations, Macedonia's economy has returned
to growth following stagnation in 2017.
We are affirming our 'BB-/B' ratings on Macedonia.