Audio By Carbonatix
Rating agency, Fitch, says it will assign Ghana a better rating if it receives satisfactory confirmation that the country has settled all the missed payments of its bonds.
According to the UK based firm, it will assign Ghana's Long-Term Local-Currency Issuer Default Rating (LTLC)) based on a forward-looking assessment of its willingness and capacity to honour its local currency debt.
This is coming after it downgraded the country’s sovereign debt to Restrictive Default.
It added that once the country reaches an agreement with private creditors on the restructuring of its foreign-currency-denominated debt and completes that restructuring process following the Common Framework official creditors' claims treatment, Fitch will assign a positive rating.
Ghana score 5 for Creditor Rights.
Meanwhile, the country recorded an Environment, Science and Governance Score (RS) of '5' for both Political Stability and Rights and for the Rule of Law, Institutional and Regulatory Quality and Control of Corruption.
These scores, Fitch said, reflect the high weight that the World Bank Governance Indicators (WBGI) have in its proprietary Sovereign Rating Model. Ghana has a medium WBGI ranking at 50.8 reflecting a recent track record of peaceful political transitions, a moderate level of rights for participation in the political process, moderate institutional capacity, established rule of law and a moderate level of corruption.
Again Ghana scored an ESG Relevance Score (RS) of '5' for Creditor Rights as willingness to service and repay debt is highly relevant to the rating and is a key rating driver with a high weight. The highest relevant score is 3.
It concluded that the rating on Ghana's LTFC IDR reflects Fitch's view that Ghana is in default.
Latest Stories
-
BoG to tighten monetary policy in half-year 2026
1 minute -
Parliament approves GH₵357 billion budget for 2026
7 minutes -
MAX and Bolt announce strategic partnership to power electric mobility and vehicle ownership in Ghana
24 minutes -
Greater Accra poultry farmers association says it was excluded from gov’t ‘Nkoko nkiti nkiti’ initiative
37 minutes -
Michael Adangba survives dawn road crash en route to Bolgatanga
42 minutes -
Court remands 40-year-old man for alleged murder
42 minutes -
AngloGold Ashanti Obuasi mine donates fire tender to boost emergency response in municipality
43 minutes -
Gov’t introduces sliding-scale mining royalties to capture price gains
54 minutes -
Global Africa Summit Accra 2025 rallies investors, diaspora and policymakers to boost trade and growth
56 minutes -
New research suggests a better way to fight littering in Ghana
56 minutes -
We must protect our own – Adutwum spokesperson calls for Ashanti solidarity
1 hour -
FDA shuts down 7 Foreign shops in Kumasi over unapproved, foreign-labelled products
1 hour -
13 arrested as Central East Police crack down on crime in Senya Beraku enclave
2 hours -
Kumasi residents raise alarm over poor street lighting ahead of Christmas
2 hours -
Police swoop in Kintampo nabs 13 in drug bust, seizes cannabis and tramadol
2 hours
