Ken Ofori Atta<\/em><\/strong><\/p>\n\u00a0<\/p>\n
S&P Global Ratings has upgraded the country\u2019s local-currency debt rating following the settlement of its domestic debt exchange with bondholders.<\/p>\n
The country\u2019s foreign debt however, remains rated in default.<\/p>\n
Ghana\u2019s local credit score was raised to CCC+ from SD \u2014 or selective default \u2014 by S&P after new domestic debt securities were delivered to creditors, according to a S&P statement.<\/p>\n
The credit assessor continues to score the West African nation\u2019s foreign-currency debt at SD as the government works to restructure the external bonds, wrote analysts Frank Gill and Ravi Bhatia.<\/p>\n
\u201cWe understand that the authorities aim to lower debt to GDP to about 55% over a five-year horizon,\u201d they wrote. \u201cDiscussions with holders of foreign currency instruments are continuing.\u201d<\/p>\n
The country has been engaging investors since late 2022 to restructure about $30 billion of its $46 billion in local and international debt.<\/p>\n
It recently completed the first part of a domestic restructuring, with investors exchanging 83 billion Cedis ($6.7 billion), or 64 per cent of holdings, for new securities, against an overall target of 80 per cent. It aims to start \u201csubstantive\u201d discussions with international bondholders and their advisers in the coming weeks, Minister of Finance Ken Ofori-Atta said Thursday.<\/p>\n
Still, the ongoing discussion means payments have been halted on individual bonds. S&P on Friday lowered the ratings on three UK-law Eurobonds \u2014 maturing in 2023, 2027 and 2025 \u2014 to D, or default.<\/p>\n
On Friday, a panel of dealers and investors agreed to review whether a missed payment of a coupon on one of a dollar bond due 2026 constituted a so-called credit event, which may trigger payout of insurance protection on the debt.<\/p>\n
By Jamila Akweley Okertchiri<\/strong><\/p>\n\u00a0<\/p>\n
\n\t<\/div>\n
<\/script><\/p>\n","protected":false},"excerpt":{"rendered":"
Ken Ofori Atta \u00a0 S&P Global Ratings has upgraded the country\u2019s local-currency debt rating following the settlement of its domestic debt exchange with bondholders. The country\u2019s foreign debt however, remains rated in default. Ghana\u2019s local credit score was raised to CCC+ from SD \u2014 or selective default \u2014 by S&P after new domestic debt securities […]<\/p>\n","protected":false},"author":1,"featured_media":965,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-22943","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\n
S&P Raises Ghana\u2019s Debt Score - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2023\/02\/28\/sp-raises-ghanas-debt-score\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"S&P Raises Ghana\u2019s Debt Score - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Ken Ofori Atta \u00a0 S&P Global Ratings has upgraded the country\u2019s local-currency debt rating following the settlement of its domestic debt exchange with bondholders. The country\u2019s foreign debt however, remains rated in default. Ghana\u2019s local credit score was raised to CCC+ from SD \u2014 or selective default \u2014 by S&P after new domestic debt securities […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ghanamma.com\/2023\/02\/28\/sp-raises-ghanas-debt-score\/\" \/>\n<meta property=\"og:site_name\" content=\"Ghanamma.com\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-28T12:24:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.ghanamma.com\/2023\/wp-content\/uploads\/2023\/01\/Ken-Ofori-Atta.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"399\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ghana News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ghana News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.ghanamma.com\/2023\/02\/28\/sp-raises-ghanas-debt-score\/\",\"url\":\"https:\/\/www.ghanamma.com\/2023\/02\/28\/sp-raises-ghanas-debt-score\/\",\"name\":\"S&P Raises Ghana\u2019s Debt Score - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\/\/www.ghanamma.com\/2023\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.ghanamma.com\/2023\/02\/28\/sp-raises-ghanas-debt-score\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.ghanamma.com\/2023\/02\/28\/sp-raises-ghanas-debt-score\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.ghanamma.com\/2023\/wp-content\/uploads\/2023\/01\/Ken-Ofori-Atta.jpg\",\"datePublished\":\"2023-02-28T12:24:19+00:00\",\"dateModified\":\"2023-02-28T12:24:19+00:00\",\"author\":{\"@id\":\"https:\/\/www.ghanamma.com\/2023\/#\/schema\/person\/6f91dab2e50bbbfe895c93e7e84e7f74\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.ghanamma.com\/2023\/02\/28\/sp-raises-ghanas-debt-score\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.ghanamma.com\/2023\/02\/28\/sp-raises-ghanas-debt-score\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.ghanamma.com\/2023\/02\/28\/sp-raises-ghanas-debt-score\/#primaryimage\",\"url\":\"https:\/\/www.ghanamma.com\/2023\/wp-content\/uploads\/2023\/01\/Ken-Ofori-Atta.jpg\",\"contentUrl\":\"https:\/\/www.ghanamma.com\/2023\/wp-content\/uploads\/2023\/01\/Ken-Ofori-Atta.jpg\",\"width\":600,\"height\":399},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.ghanamma.com\/2023\/02\/28\/sp-raises-ghanas-debt-score\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.ghanamma.com\/2023\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"S&P Raises Ghana\u2019s Debt Score\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.ghanamma.com\/2023\/#website\",\"url\":\"https:\/\/www.ghanamma.com\/2023\/\",\"name\":\"Ghanamma.com\",\"description\":\"Ghana mma provides breaking news, top stories in Ghana, Africa, business, entertainment, politics and more.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.ghanamma.com\/2023\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.ghanamma.com\/2023\/#\/schema\/person\/6f91dab2e50bbbfe895c93e7e84e7f74\",\"name\":\"Ghana News\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.ghanamma.com\/2023\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"caption\":\"Ghana News\"},\"sameAs\":[\"https:\/\/www.ghanamma.com\/2023\"],\"url\":\"https:\/\/www.ghanamma.com\/2023\/author\/ghanamma\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"S&P Raises Ghana\u2019s Debt Score - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2023\/02\/28\/sp-raises-ghanas-debt-score\/","og_locale":"en_US","og_type":"article","og_title":"S&P Raises Ghana\u2019s Debt Score - Ghanamma.com","og_description":"Ken Ofori Atta \u00a0 S&P Global Ratings has upgraded the country\u2019s local-currency debt rating following the settlement of its domestic debt exchange with bondholders. The country\u2019s foreign debt however, remains rated in default. Ghana\u2019s local credit score was raised to CCC+ from SD \u2014 or selective default \u2014 by S&P after new domestic debt securities […]","og_url":"https:\/\/www.ghanamma.com\/2023\/02\/28\/sp-raises-ghanas-debt-score\/","og_site_name":"Ghanamma.com","article_published_time":"2023-02-28T12:24:19+00:00","og_image":[{"width":600,"height":399,"url":"https:\/\/www.ghanamma.com\/2023\/wp-content\/uploads\/2023\/01\/Ken-Ofori-Atta.jpg","type":"image\/jpeg"}],"author":"Ghana News","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Ghana News","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.ghanamma.com\/2023\/02\/28\/sp-raises-ghanas-debt-score\/","url":"https:\/\/www.ghanamma.com\/2023\/02\/28\/sp-raises-ghanas-debt-score\/","name":"S&P Raises Ghana\u2019s Debt Score - Ghanamma.com","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2023\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.ghanamma.com\/2023\/02\/28\/sp-raises-ghanas-debt-score\/#primaryimage"},"image":{"@id":"https:\/\/www.ghanamma.com\/2023\/02\/28\/sp-raises-ghanas-debt-score\/#primaryimage"},"thumbnailUrl":"https:\/\/www.ghanamma.com\/2023\/wp-content\/uploads\/2023\/01\/Ken-Ofori-Atta.jpg","datePublished":"2023-02-28T12:24:19+00:00","dateModified":"2023-02-28T12:24:19+00:00","author":{"@id":"https:\/\/www.ghanamma.com\/2023\/#\/schema\/person\/6f91dab2e50bbbfe895c93e7e84e7f74"},"breadcrumb":{"@id":"https:\/\/www.ghanamma.com\/2023\/02\/28\/sp-raises-ghanas-debt-score\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ghanamma.com\/2023\/02\/28\/sp-raises-ghanas-debt-score\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ghanamma.com\/2023\/02\/28\/sp-raises-ghanas-debt-score\/#primaryimage","url":"https:\/\/www.ghanamma.com\/2023\/wp-content\/uploads\/2023\/01\/Ken-Ofori-Atta.jpg","contentUrl":"https:\/\/www.ghanamma.com\/2023\/wp-content\/uploads\/2023\/01\/Ken-Ofori-Atta.jpg","width":600,"height":399},{"@type":"BreadcrumbList","@id":"https:\/\/www.ghanamma.com\/2023\/02\/28\/sp-raises-ghanas-debt-score\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.ghanamma.com\/2023\/"},{"@type":"ListItem","position":2,"name":"S&P Raises Ghana\u2019s Debt Score"}]},{"@type":"WebSite","@id":"https:\/\/www.ghanamma.com\/2023\/#website","url":"https:\/\/www.ghanamma.com\/2023\/","name":"Ghanamma.com","description":"Ghana mma provides breaking news, top stories in Ghana, Africa, business, entertainment, politics and more.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ghanamma.com\/2023\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.ghanamma.com\/2023\/#\/schema\/person\/6f91dab2e50bbbfe895c93e7e84e7f74","name":"Ghana News","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ghanamma.com\/2023\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","caption":"Ghana News"},"sameAs":["https:\/\/www.ghanamma.com\/2023"],"url":"https:\/\/www.ghanamma.com\/2023\/author\/ghanamma\/"}]}},"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2023\/wp-json\/wp\/v2\/posts\/22943","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2023\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2023\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2023\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2023\/wp-json\/wp\/v2\/comments?post=22943"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2023\/wp-json\/wp\/v2\/posts\/22943\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2023\/wp-json\/wp\/v2\/media\/965"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2023\/wp-json\/wp\/v2\/media?parent=22943"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2023\/wp-json\/wp\/v2\/categories?post=22943"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2023\/wp-json\/wp\/v2\/tags?post=22943"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}