S&P trims Zambia

S&P said it lowered Zambia’s long-term rating to CCC from CCC+ on rising debt repayment risks.

The outlook is negative.

The agency affirmed the C short-term rating.

“Zambia missed an interest installment on existing debt, resulting in arrears to an official lender,” the agency said in a news release.

“Although the arrears have since been cleared, the missed installment highlights Zambia's currently weak macroeconomic and fiscal position, posing risks to upcoming commercial debt repayments.”

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