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Financials

BRIEF-S&P lowers Angola’s sovereign credit rating to B- from B

Aug 11 (Reuters) - S&P:

* Lowers Angola’s sovereign credit rating to B- from B; raises outlook to stable from negative

* S&P says angola downgraded to ‘B-’ on rising debt service costs, weak economic prospects; outlook stable

* S&P says has lowered its expectations of Angola’s pace of economic growth

* S&P - stable outlook reflects view that current account deficits will remain high, but can be financed without dragging on Angola’s foreign exchange reserves

* S&P, on Angola, says banking sector is weak; some important state banks are undergoing restructuring processes, posing contingent risks to government Source text: (bit.ly/2fyUCW3)

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