On Jan. 29, 2016, Standard & Poor's Ratings Services lowered its long-term foreign and local currency sovereign credit ratings on the Republic of Gabon to 'B' from 'B+'. The outlook is stable. We affirmed the short-term ratings at 'B'.

Fitch Ratings has affirmed Gabon's Long-term foreign and local currency Issuer Default Ratings (IDR) at 'B+' with Stable Outlooks. The issue ratings on Gabon's senior unsecured foreign bonds have also been affirmed at 'B+'. The Country Ceiling has been affirmed at 'BBB-', in line with the Country Ceiling for the Communaute Economique et Monetaire d'Afrique Centrale (CEMAC), and the Short-Term foreign currency IDR at 'B'.

Fitch Ratings has downgraded Gabon's Long-term foreign and local currency Issuer Default Ratings (IDRs) to 'B+' from 'BB-'. The Outlook is Stable. The issue ratings on Gabon's senior unsecured foreign currency bonds have also been downgraded to 'B+' from 'BB-'. Fitch has affirmed Gabon's Short-term IDR at 'B'. Fitch has also affirmed the Country Ceiling for the Communaute Economique et Monetaire d'Afrique Centrale (CEMAC) and for Gabon at 'BBB-'.

Fitch Ratings affirmed Gabon's Long-term foreign and local currency Issuer Default Ratings (IDRs) at 'BB-' and its Short-term foreign currency IDR at 'B'. The Outlooks on the Long-term IDRs are Stable. Fitch has also affirmed the Country Ceiling for Gabon at 'BBB-', in line with the Country Ceiling for Communaute Economique et Monetaire d'Afrique Centrale (CEMAC) and for the Union Economique et Monetaire Ouest-Africaine (UEMOA) at 'BBB-'.