Mozambique - 01

Mozambique: Sovereign Default Rejected by Creditors

As a result of Mozambique’s default on 16 January (see our 19 January Latest Analysis), Standard and Poor’s has predictably downgraded Mozambique’s rating to SD/D, the lowest rank on its grading scale. D means that the debtor has defaulted on one or more payments. Fitch has warned of an “extended period of uncertainty” ahead, but did not lower the country’s rating as in November 2016, when it downgraded Mozambique to RD – the lowest rating on its scale.

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