LONDON, 17 December 2020 – Moody’s Investors Service (Moody’s) has completed a review of issues that include Cameroun, according to a statement issued in London.

The review did not involve a rating review, according to the statement.

Cameroon’s Finance Ministry – Photo Journal du Cameroun

Moody’s says the review assessed “recent developments, and a comparison of the financial and operating profile to similarly rated peers”.

The credit profile of Cameroun (issuer rating B2) reflects the country’s “ba3” economic strength constrained by diminishing oil reserves, lack of competitiveness and low per capita income levels.

SONARA Oil Refinery Before Fire – Photo Energyst.com

The statement notes Cameroun’s “caa2” institutions and governance strength highlights low performance in the Worldwide Governance Indicators.

Moody’s scores “b2” for fiscal strength, indicating that it “underscores the deteriorating debt burden and affordability position and high contingent liabilities stemming from State-Owned Enterprises”.

Paul Biya: Past, Present & Future? – Photo VoA Afrique

Moody’s assigned “ba” to Cameroun’s event and political risk notably “in relation to succession risk and unrest in the [Southern Cameroons] Anglophone regions, as well as government liquidity risk”.

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