Fitch Ratings has downgraded Mozambique’s foreign-currency debt rating by one notch to CC, warning that a restructuring of the country’s sole outstanding Eurobond has become increasingly likely.
The latest action marks the East African nation’s lowest rating level since April 2020, when the
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Bunmi Bailey
Bunmi holds a degree in Economics from the University of Lagos and has over eight years of experience in content writing and journalism.
Her career spans roles as a financial and business journalist at BusinessDay Media and TechCabal, and as Head of Research at SBM Intelligence, an Africa-focused market intelligence and strategic consulting firm.
She also served as Editor at Finance in Africa, a subsidiary of Businessfront and is currently Assistant Editor, Finance (Africa), at BusinessDay.
