By Ukumbi Afrika 
Brazzaville—Fitch Ratings has upgraded the Republic of Congo’s long-term local-currency rating to “CCC+” from “CCC”, citing improved regional financing conditions and a smoother government debt repayment profile.
Fitch also affirmed Congo’s long-term foreign-currency rating at “CCC+.”
The upgrade reflects reduced near-term refinancing risks, improving growth prospects linked to expansion in the oil and gas sector, declining government debt and expected fiscal surpluses.
The ratings agency projects government debt will fall to 80.9% of GDP in 2026, from 92.1% at the end of 2025, supported by fiscal surpluses and stronger nominal economic growth.
The development comes as President Denis Sassou Nguesso’s government continues efforts to consolidate peace and diversify the economy. Nguesso won the March presidential election with more than 94% of the vote, extending his nearly 42-year tenure in power.
Despite the upgrade, Congo remains firmly in junk-rated territory. Fitch said weak public financial management, heavy dependence on oil revenues and recurring government arrears continue to constrain the country's creditworthiness.
The rating outlook highlights the importance of Congo maintaining fiscal discipline and reducing its vulnerability to oil-price and financing shocks as it works to strengthen its public finances.
Source: Reuters
Reporting: Khusbu Jena & Bengaluru
Editing: Shreya Biswas