Fitch Ratings maintains Ghana's 'CCC' IDRs while progressing in Common Framework restructuring with Eurobond restructuring agreement in principle.

Fitch Ratings maintains Ghana's long-term local currency and foreign currency IDRs at 'CCC' and 'RD', respectively. Despite ongoing default on Eurobonds, Ghana has progressed in its Common Framework restructuring process with a memorandum of understanding finalized in June 2024. An agreement in principle on Eurobonds restructuring was reached, satisfying debt sustainability thresholds and comparability of treatment. A consent solicitation for the Eurobond exchange is expected by September 2024.

August 03, 2024
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