African Panel Urges Moody’s Review of Ghana Ratings Appeal
- Downgrade threatens nation’s debt sustainability, APRM says
- Ghana says Moody’s used incomplete data in its assessment
This article is for subscribers only.
An African Union-backed panel urged Moody’s Investors Service to consider an appeal by the Ghanaian government against the rating company’s downgrade of the West African nation’s debt.
Ghana’s Finance Ministry on Sunday criticized Moody’s decision to lower its rating further into junk territory and said the company used incomplete data. Moody’s cut its assessment of the nation’s long-term debt by one notch to Caa1, seven steps below investment grade, on Feb. 4.