Angola — Sovereign Signal
BT-SFS 31.3/100 · B− · 460bps over Treasuries
Score and market snapshot
Angola trades 149bps wide of its fundamentals fit (fitted spread 311bps).
| Field | Value |
|---|---|
| BT-SFS | 31.3 / 100 |
| Rank | 40 of 51 |
| Composite rating | B− |
| Agency ratings | Moody's B3 · S&P B- · Fitch B- |
| Benchmark USD bond | ANGOL 9.375 33 |
| Spread over Treasuries | 460bps |
| Yield to worst (S.A.) | 9.68% |
| Duration | 4.7y |
Pillar scores
| Pillar | Score (0-100) |
|---|---|
| Fiscal | 43.7 |
| External | 25.9 |
| Macro | 42.2 |
| Institutions | 9.6 |
The ten metrics behind the score
| Metric | Pillar | Raw value | Score | Source | Year |
|---|---|---|---|---|---|
| Reserves, months of imports | External | 5.3 mo | 25.9 | World Bank | 2025 |
| General government debt / GDP | Fiscal | 51.6% | 44.5 | IMF | 2026 |
| FX public debt / GDP | Fiscal | 36.8% | 37.2 | IMF staff report / Eurostat | 2025–2026 |
| Net interest / revenue | Fiscal | 26.0% | 23.3 | IMF | 2026 |
| Primary balance / GDP | Fiscal | 1.3% | 69.7 | IMF | 2026 |
| Governance (WGI GE + RQ) | Institutions | 40.3 | 1.3 | WGI | 2025 |
| Inflation track record | Institutions | 27.3% | 21.9 | IMF | 1997–2026 (h=10) |
| Real GDP growth, centred 3-year | Macro | 2.7% | 37.6 | IMF | 2025–2027 |
| GDP per capita, USD | Macro | $3,754 | 35.0 | IMF | 2026 |
| Growth volatility, 10-year | Macro | 2.6pp | 54.8 | IMF | 2016–2025 |
Score history
Applying the current methodology to historical sources, Angola moves from 28.2 in 2016 to 31.3 in 2026 (+3.1 points over ten years).
Default and restructuring registry
No bond default or restructuring events in the registry window.
Frequently asked questions
What is Angola's sovereign credit score?
Angola scores 31.3/100 on the BT Sovereign Fundamentals Score, ranking 40 of 51 sovereigns covered. The score is built from ten public IMF and World Bank metrics across fiscal, external, macro, and institutions pillars.
Which Angola USD bond does BondTerminal track?
ANGOL 9.375 33 (ISIN XS3328007797), the near-5-year USD benchmark, currently 460bps over Treasuries with a 9.68% yield to worst (S.A.).
Is Angola trading wide or tight of its fundamentals?
Angola trades 149bps wide of its fundamentals fit (fitted spread 311bps).