Tag Archives: fitch

Ghana’s economy is still faced with significant financing challenges despite the government’s debt restructuring activities, a recent report by Fitch has indicated. As a result, the rating agency kept Ghana’s rating at a level that indicates that the country is effectively in default on its foreign debts. This rating, known …

Fitch Ratings has upgraded Ghana’s Long-Term Local Currency Issuer Default Rating (IDR) to ‘CCC’ from ‘RD’. The ratings agency has also affirmed the country’s Long-Term Foreign-Currency IDR at ‘RD’ and the Country Ceiling at ‘B-‘. Fitch has assigned ‘CCC’ ratings to two interest-only bonds issued on completion of pension funds …

Fitch Solutions, the research arm of the international rating agency, Fitch Ratings, has predicted that the biggest opposition political party, the National Democratic Congress (NDC), is likely to win the 2024 presidential elections. According to Fitch, a survey it conducted indicated that most Ghanaians will be voting for the NDC in the …

There is a 50% chance that Ghana could default on its debt repayment, rating agency, Fitch, has projected. The agency said that Ghana’s sovereign credit rating may yet face another downgrade closer to default. According to a report by myjoyonline.com, Fitch said that this could become an even more definite …

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 …

The Sovereign credit rating downgrades of Ghana by Fitch and Moody’s led to “widened yield spreads on both cedi-denominated government of Ghana bonds and the country’s Eurobonds”, the Bank of Ghana has said. “These downgrades reflect market and investor concerns about fiscal and debt sustainability”, Governor Ernest Addison told journalists …

  International Economic rating firm Fitch has downgraded Ghana’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to negative from stable. Fitch has affirmed the IDR at ‘B’. According to the latest Fitch report, the negative rating reflects the significant deterioration in public finances as a result of the Covid-19 pandemic and …