August 11, 2017 / 9:07 PM / 7 days ago

CORRECTED-BRIEF-Moody's says downgrades Namibia's rating to BA1; maintains negative outlook

(Corrects source in headline)

Aug 11 (Reuters) - Moody's-

* Moody's says downgrades Namibia's rating to BA1, maintains negative outlook‍​

* Moody's says key factors for downgrading rating are erosion of Namibia's fiscal strength due to sizeable fiscal imbalances, increasing debt burden, among ohers ‍​

* Moody's, on Namibia​, says by raising share of recurrent spending, especially wages, current budget will hinder medium-term growth, domestic revenues

* Moody's says ‍​downgraded Namibia's long-term senior unsecured bond and issuer ratings to BA1 from BAA3 Source text: (bit.ly/2wQe6bV)

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