Fitch downgrades Ghana to 'restricted default' after missing coupon payments

Kitco Media
By Reuters
Published:
Updated:
Reuters
Feb 21 (Reuters) - Ratings agency Fitch on Tuesday downgraded Ghana's long-term foreign-currency issuer default rating to 'restricted default', after the country missed the grace period to make a coupon payment on one of its eurobonds. Ghana on Friday missed making the $40.6 million coupon payment on its $1 billion 2026 eurobond, as part of the suspension of payments on selected external debt that the government announced in December last year, Fitch said. (Reporting by Urvi Dugar in Bengaluru; Editing by Andrew Heavens)

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