Ratings agency, Moody’s has indicated to upgrade Ghana’s credit rating

By Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

Ratings agency, Moody’s has indicated to upgrade Ghana’s credit rating following the country’s Eurobond exchange.

The New York-based firm has issued a statement indicating that it has completed a periodic review of Ghana’s ratings, including its long-term issuer ratings of Caa3 for local currency and Ca for foreign currency.

These ratings, it said, reflect the government’s ongoing debt restructuring under the G20 common framework initiated in December 2022.

It further said that the restructuring of local currency debt, excluding Treasury Bills, was completed in 2023.

Source: newsthemegh.com