August 15, 2013 / 3:56 PM / 5 years ago

Fitch revises Rwanda's credit outlook to positive from stable

NEW YORK, Aug 15 (Reuters) - Fitch Ratings revised its sovereign credit outlook for Rwanda to positive from stable on Thursday citing rapid and inclusive economic growth driven by credible economic policy management relative to its rating peers.

The rating on the African nation stands at B, deep within the speculative, or junk, category.

“Economic development has also been supported by large investments attracted by the third best business climate in Africa according to the World Bank,” Fitch said in a statement.

“Fitch expects growth to remain robust, at 7.5 percent per annum up to 2015, driven by continuing high investment, expansion of the private sector and gradual integration within the East African Community,” the firm said.

Standard & Poor’s rates Rwanda B with a stable outlook. Moody’s Investors Service does not have a rating on the country.

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