Fitch Ratings has revised the Outlook on Cameroon's Long-Term Foreign-Currency Issuer Default Rating (IDR) to Negative from Stable and affirmed the rating at 'B'.
KEY RATING DRIVERS
The revision of the Outlook reflects Fitch's expectation that the economic and fiscal impact of the coronavirus pandemic and the plunge in oil prices will cause GDP to contract and weaken public finances, increasing medium-term liquidity risks, although we expect Cameroon to meet its fiscal financing needs in 2020 and 2021.
