Tag Archives: Fitch

International rating agency, Fitch, has further downgraded Ghana’s Long-Term creditworthiness to Restricted Default (RD) from ‘C’. The issue ratings on local-currency bonds issued domestically have also been downgraded to Default (D) from ‘C’. In a statement, Fitch also affirmed Ghana’s Long-Term Foreign Currency (FC) IDR at ‘C’. Fitch typically does …

Fitch Ratings has downgraded Ghana’s Long-Term Local- and Foreign-Currency Issuer Default Ratings (IDRs) to ‘CC’, from ‘CCC’. Fitch typically does not assign Outlooks to issuers with a rating of ‘CCC’ or below. A full list of rating actions is at the end of this rating action commentary.       …

Businesses that require foreign investments and financing may be at the receiving end of Ghana’s economic downgrade by Fitch, and Standard & Poor’s (S&P). This is according to Dr Humphrey Ayim-Darke, the President of the Association of Ghana Industries (AGI). Dr Humphrey Ayim-Darke, speaking on JoyNews’ Newsfile, said bulk importers …

International Ratings agency, Fitch, says Ghanaian banks are well-positioned to absorb the increased asset quality risk from borrowers pressured by the economic effects of the coronavirus pandemic. According to the UK based firm, the covid-19 pandemic-induced defaults will add to legacy asset quality issues, but strong operating profitability and improved …