Ivory Coast has been ranked by the Standards and Poor (S&P) global ratings as the highest-rated sovereign in Sub-Saharan Africa with Foreign debt outstanding. Ivory Coast is the world’s largest producer of Cocoa and just managed to edge South Africa off the first position due to an improving debt profile.
Ivory Coast
Moody's Investors Service ("Moody's") has upgraded the Government of Côte d'Ivoire's local and foreign currency long-term issuer ratings and foreign currency senior unsecured ratings to Ba2 from Ba3. The outlook has been changed to stable from positive. The sovereign's local and foreign currency short-term issuer ratings were affirmed at Not Prime (NP).
Ivory Coast will become the first African country since 2022 to issue a Eurobond. According to an announcement by the Ivorian President, Alassane Ouattara in Abidjan, the country is set to issue new Eurobonds next week.
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