Moody’s Ratings downgrades Uganda’s ratings to B3 from B2; upgrades outlook to stable

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Moody's Ratings (Moody's) one of the global leaders in credit ratings for companies, governments has downgraded the Government of Uganda's long-term foreign-currency and local-currency issuer ratings to B3 from B2 and changed the outlook to stable from negative. In a 17th May 2024 statement, Moody's said that the "downgrade of the ratings reflects diminished debt affordability and increasingly