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S&P downgrades Senegal's credit rating from B to B-

Africanews · Recent
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Africanews
Recent

Senegal's soaring debt level has led to several credit rating agencies downgrading the government. The country had recently increased its debt figures following an audit.

Breakdown
  • Standard & Poor's downgraded Senegal's credit rating from B to B-. 5s
  • The downgrade was accompanied by a negative outlook from the agency. 12s
  • S&P warned that Senegal's debt crisis could increase funding pressures. 26s
  • Senegal's debt-to-GDP ratio was estimated at 118%, up from 104%. 36s
Economy