Investment Times

The rating on Ghana’s local-currency debt was upgraded by S&P Global Ratings as the country settles its domestic debt exchange with bondholders. The nation’s foreign debt remains rated in default. Ghana’s local credit score was raised to CCC+ from SD — or selective default — by S&P after new domestic debt securities were delivered to creditors, according to a Friday statement. The credit assessor continues to score the West African nation’s foreign-currency debt at SD as the government works to restructure the external bonds, wrote analysts Frank Gill and Ravi Bhatia.  “We understand that the authorities aim to lower debt...