BondsMedium•6 November 2026•
1 min read
S&P Revises Uganda Outlook to Stable Citing Oil Delays and Fiscal Deficit
Key Facts
1S&P Global Ratings revised Uganda's outlook from positive to stable.
2The revision is attributed to delays in oil production and a widening fiscal deficit.
S&P Global Ratings revised Uganda's sovereign credit outlook from positive to stable. Investing.com reported that the revision stems from slower-than-anticipated progress on domestic oil projects and mounting fiscal pressures.
The rating agency attributed the change to delays in the commencement of oil production and a widening fiscal deficit. These factors have weakened Uganda's near-term economic prospects relative to previous expectations, signaling potential pressure on sovereign borrowing costs.