S&P assigns 'B-/B' to Democratic Republic of Congo ratings

SYDNEY Fri Dec 13, 2013 1:00am EST

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SYDNEY Dec 13 (Reuters) - Standard & Poor's assigned its 'B-' long-term foreign and local currency sovereign credit ratings to the Democratic Republic of Congo.

At the same time the credit ratings agency also assigned 'B' to short-term foreign and local currency ratings with a stable outlook.

"The ratings are constrained by weak institutions, continuing conflict in the east of the country, poor governance and extremely low income levels, heavy dependence on external financy and very limited economic policy flexibility," S&P said in a statement. (Reporting by Thuy Ong; Editing by Kim Coghill)

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