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Moody's changes Ghana view to negative
Moody's Investors Service said it affirmed the government of Ghana's long-term local and foreign-currency issuer and foreign-currency senior unsecured bond ratings at B3 and changed the outlook to negative from positive.
Moody's also affirmed the rating of the bond enhanced by a partial guarantee from the International Development Association at B1.
“The decision to change the outlook to negative reflects the rising risks, ultimately emanating from the coronavirus outbreak to Ghana's funding and debt service, with financing beyond immediate official creditor emergency support looking increasingly vulnerable. The outbreak has caused an unprecedented shock across a wide range of global sectors, markets and regions,” the agency said in a press release.
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