Ghana’s upcoming $3bn Eurobond gets Fitch’s 'B(EXP)' rating

Global rating agency, Fitch, has rated Ghana's upcoming USD-denominated senior unsecured notes an expected rating of 'B(EXP)'. The rating falls in the category of junks and its risk levels highly speculative...


Global rating agency, Fitch, has rated Ghana's upcoming USD-denominated senior unsecured notes an expected rating of 'B(EXP)'.

The rating falls in the category of junks and its risk levels highly speculative.

The government of Ghana plans to use the sovereign bonds to shore up revenue for budget expenditure and payment of maturing notes.

Managers of the economy also aim to use the notes as a stopgap measure for the weakening Ghana Cedi, which strengthened by 0.2 per cent to 5.6452 per the US Dollar, the first weekly gain since 15 February 2019.

Meanwhile, Standards and Poor's (S&P) Global, another rating agency, has also assigned a rating of ‘B/Stable’ to the bonds.

S&P holds the view that Ghana currently has the capacity to meet its financial obligation but faces major ongoing uncertainties that could impact its financial commitment on the obligation.

Source: Ghana/ClassFMonline.com/91.3FM



Related Posts

Bawumia’s full EMT town hall speech

Man gets tens of thousands of birthday calls after sons post his phone number on billboards

Ghana may auction Eurobonds with or without final IMF review

Judge questions 1-yr delay in prosecuting man who set 11-yr-old boy ablaze

Muntari joins Spanish side Albacete on one-year deal

In the Netherlands sitting on a pole for hours on end is a competitive Sport

Facebook to launch news tab this fall

Liverpool beat Norwich 4-1 in EPL opener

Leave a reply
your email address will not be published

Featured Posts

Liverpool beat Norwich 4-1 in EPL opener


Ghana Manganese Company ordered to resume operations


“Ghana-Angola relations put on a new level” – Akufo-Addo


Cuba Gooding Jr to face trial over 'grope'


Facebook to launch news tab this fall


Support open & distance learning universities – Alabi


Apologise for disrespecting women – Catholic Bishops to Badu Kobi


Ghana Manganese Company ordered to resume operations


Cuba Gooding Jr to face trial over 'grope'


Facebook to launch news tab this fall


Apologise for disrespecting women – Catholic Bishops to Badu Kobi


Facebook to launch news tab this fall


Support open & distance learning universities – Alabi


Support open & distance learning universities – Alabi