Tag: S&P Global Ratings
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Ghana’s local debt score raised by S&P as domestic default cured
The rating on Ghana’s local-currency debt was upgraded by S&P Global Ratings as the country settled its domestic debt exchange with bondholders. The nation’s foreign debt remains rated in default. Ghana’s local credit score was raised to CCC+ from SD — or selective default — by S&P after new domestic debt securities were delivered to…
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S&P downgrade: Gov’t urged to quicken pace of fiscal consolidation
Economist with Databank, Courage Martey has reiterated calls for government to hasten the pace of fiscal consolidation in the short to medium term. In an interview with Citi Business News, the economist said this will restore the country back above the current downgraded position that the country is facing. His call comes as international ratings…
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S&P revises Ghana’s rating to ‘CCC+/C’, outlook negative
Ratings agency, S&P Global Ratings, has revised Ghana’s rating from B-/B to CCC+/C. In a statement issued on Friday August 5, 2022, the global ratings agency, said though government has taken steps toward consolidating the fiscal deficit, including the recent passage of the Exemptions bill, high borrowing costs and softening growth make it difficult to…