{{The Government is to undergo a second rating by Standard & Poor\u2019s (\u2018S&P\u2019) to review the country\u2019s strong economic growth, and the reform process that made the business environment friendlier to investors.}}<\/p>\n
The ministry of Finance and economic Planning will of August 16 host one of the world\u2019s leading rating agencies (S&P) with coverage on 126 sovereigns globally.<\/p>\n
Mid September, the Agency will visit Rwanda and meet with various government ministries, Ambassadors, donors, RDB among others and 8 weeks later, send initial rating to the Ministry of Finance for discussion.<\/p>\n
According to a Press release issued by Finance Ministry Friday, Fitch Ratings recently upgraded Rwanda\u2019s rating to a \u2018B\u2019, in recognition of the country\u2019s more secure investment climate.<\/p>\n
Ratings provide an independent objective assessment of the credit worthiness of a certain country or a security.<\/p>\n
The factors considered in the rating include the country\u2019s economic status, transparency in the capital market, level of public and private investment flows and foreign investment.<\/p>\n
Other factors considered are foreign currency reserves, political stability, or the ability for a country’s economy to remain stable despite political change.<\/p>\n
Frank Higiro, the Communications Advisor Ministry of Finance and Economic Planning says: \u201cA second rating would reassure investors that Rwanda has a good investment climate which could also lead to better borrowing costs for local companies and the government.<\/p>\n
Such an opportunity will also enable Rwanda to access the international capital markets either through a sovereign bond offering.<\/p>\n
It will also enable local companies with better access to the capital markets. After receiving their respective ratings, several African countries have issued international bonds to raise capital.<\/p>\n
Ratings lie on a spectrum ranging between highest credit quality on one end and default on the other. Long\u2013term credit ratings are denoted with a letter: from triple A (AAA) which is the highest credit quality to C or D (depending on the agency issuing the rating), the lowest or \u2018junk\u2019 quality. S&P is expected to complete the ratings process by the end of 2011.<\/p>\n
The agency began coverage of Africa 17 years ago and currently has extensive coverage with a rating on 15 countries in Sub-Saharan Africa.<\/p>\n
It is headquartered in New York with company offices located in 26 countries globally with representative office for Sub Saharan Africa in Johannesburg, South Africa. <\/p>\n","protected":false},"excerpt":{"rendered":"
{{The Government is to undergo a second rating by Standard & Poor\u2019s (\u2018S&P\u2019) to review the country\u2019s strong economic growth, and the reform process that made the business environment friendlier to investors.}} The ministry of Finance and economic Planning will of August 16 host one of the world\u2019s leading rating agencies (S&P) with coverage on […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"byline":[158],"hashtag":[],"class_list":["post-617","post","type-post","status-publish","format-standard","hentry","category-news","byline-b_igi_adm1n"],"bylines":[{"id":158,"name":"b_igi_adm1n","slug":"b_igi_adm1n","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":1}],"contributors":[{"id":158,"name":"b_igi_adm1n","slug":"b_igi_adm1n","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":1}],"featured_image":null,"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/617","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=617"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/617\/revisions"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=617"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=617"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=617"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=617"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=617"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}