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Moody's cuts Botswana's rating by a notch to 'Baa1' amid diamond industry slump

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Global credit ratings agency Moody's downgraded Botswana's rating to 'Baa1' from 'A3' on Friday, citing the government's challenges in adjusting to structural downturn in the diamond industry and increasing government debt.

The agency maintained the country's outlook at 'negative'.

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