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17 Oct 2019, Gergana Bencheva, EMIS Editor

Fitch confirms Ghana’s long-term rating at “B”

Credit rating agency Fitch Ratings affirmed Ghana's long-term foreign-currency issuer default rating (IDR) at “B”, CEEMarketWatch reported. The agency also kept its stable outlook on the rating. 

Furthermore, Fitch maintained its “B” note regarding Ghana’s short-term foreign-currency IDR, its long- and short-term local-currency IDRs as well as the country ceiling, and the rating on senior unsecured notes. The rating on guaranteed notes remained at “BB-“.

The agency explained its decision with Ghana’s favourable medium-term growth outlook and strong governance indicators. Also, Fitch noted that the country's public finances were improving. Yet, it warned that risks to its economy remained high, CEEMarketWatch noted.

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Original source: CEEMarketWatch

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