Congo Seeks S&P Rating Amid Plans to Boost Investment, Sell Debt
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The Democratic Republic of Congo will increase borrowing and spur more private investment after receiving its first credit rating from Moody’s Investors Service and as it awaits another from Standard and Poor’s, the government said.
Congo asked Moody’s and S&P to rate the Central African country “to be transparent” about investor risk and attract new investment, said Patrice Kitebi, the minister delegated to Prime Minister Matata Ponyo’s office for finance. The S&P rating may be announced within three weeks, Kitebi said, in the government’s first remarks on the classification since Moody’s issued a B3 rating with a stable outlook on Sept. 6.