Fitch Ratings upgraded Seychelles' outlook to Positive and maintained the long-term foreign-currency IDR at 'BB-'.
Fitch Ratings upgraded Seychelles' outlook to Positive from Stable, maintaining the country's long-term foreign-currency issuer default rating (IDR) at 'BB-'. This decision is driven by Seychelles' relatively high income levels, strong World Bank Governance Indicators, and stabilisation of the tourism industry, which saw a 5.7% increase in tourist arrivals and a 5.8% rise in tourism earnings in 2023.
March 18, 2024
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