Outlook stable despite fading diamond sparkle-analysts

"The impact of the global downturn on Botswana's diamond exports and other commodities is in turn likely to have a significant effect on economic growth, fiscal outturns and external balances," says Standard & Poor's credit analyst Remy Salters.
In its report released on Tuesday, S&P says it has affirmed its 'A/A-1' foreign currency and 'A+/A-1' local currency sovereign credit ratings on the Republic of Botswana and the outlook is stable.

"The affirmation reflects our expectation that the marked cyclical deterioration will be sufficiently contained to preserve comfortable net creditor positions on both the fiscal and external side," Salters says.