Tag Archives: downgrades

Over its expectation that government debt and revenue will continue to deteriorate, global rating firm, Moody’s, has downgraded Nigeria’s long-term foreign-currency and local-currency issuer ratings. In its latest assessment, the global rating agency also lowered Nigeria’s foreign currency senior unsecured debt ratings to Caa1 from B3 and changed the outlook …

International ratings agency, Moody’s has downgraded GCB Bank PLC’s (GCB Bank) global long-term local currency deposit ratings to Caa3 from Caa2. Moody’s investors also downgraded the bank’s long-term foreign currency deposit ratings to Ca from Caa2, its long-term Counterparty Risk Ratings (CRRs) to Caa3 from Caa2, its long-term Counterparty Risk …

Ghana has been downgraded deeper into junk territory by Moody’s Investors Service on the likelihood that private creditors will incur steep losses during the government’s planned debt restructuring. The country’s credit rating was slashed by two levels to Ca, the second-lowest score at Moody’s, according to a Tuesday statement. That …

Rating agency, Moody’s has downgraded Ghana’s long-term issuer and senior unsecured debt ratings from Caa1 to Caa2 and placed the ratings on review for downgrade. Moody’s, in February this year, downgraded Ghana from B3 to Caa1. The agency contends that the further downgrade stems from the government’s decision to seek …

FitchRatings has downgraded Ghana’s Long-Term Local- and Foreign-Currency Issuer Default Ratings (IDRs) to ‘CC’, from ‘CCC’. Fitch typically does not assign Outlooks to issuers with a rating of ‘CCC’ or below. A full list of rating actions is at the end of this rating action commentary. KEY RATING DRIVERS Increased …

International rating agency Fitch has downgraded the viability ratings of three Ghanaian banks to “CCC”. The Banks are Ecobank Ghana Limited, Guaranty Trust Bank (Ghana) Limited (GTB Ghana), and United Bank for Africa (Ghana) Limited (UBA Ghana). The downgrade came after the rating agency downgraded Ghana’s creditworthiness to “CCC” or …

International rating agency, Fitch, has downgraded Ghana’s Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) to ‘CCC’ from ‘B-‘. In a report sighted by GhanaWeb, it noted that the downgrade reflects the deterioration of Ghana’s public finances which has contributed to a prolonged lack of access to Eurobond markets. This, Fitch said …

American credit rating agency, Standard and Poor’s (S&P) Global Ratings on Friday, August 5, pushed Ghana’s debt further into speculative territory, lowering its foreign and local currency sovereign ratings to CCC+/C from B-/B. According to a report by marketwatch.com, S&P said its outlook for the country remains negative, “reflecting Ghana’s …

Social media users have instructed Efia Odo to give Sista Afia a break over what they term as her continuous hateful comments and attacks on the singer’s personality. The influencer and actress in a tweet on Monday disclosed that ‘photoshop’ can not save persons who try to cover their flaws. Her post …

The World Bank has downgraded Ghana in the implementation of the Ghana Accountability for Learning Outcomes Project (GALOP). This follows a report released after a technical discussion mission of a World Bank team at their second visit to inspect the implementation of the various educational interventions. Significantly, GALOP is funded …