Fitch downgrades Ghana to junk status days after poor S&P grading
Rating agency, Fitch, has downgraded Ghana’s Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) to ‘CCC’ or junk status from ‘B-‘. The downgrade, it said, reflects the deterioration of Ghana’s public finances, which has contributed to a prolonged lack of access to Eurobond markets, in turn leading to a significant decline in external liquidity. “In the […]