Cocoa Prices Help Ivory Coast Win Credit Upgrade From S&P

Ivory Coast’s 2024-2025 cocoa harvest is expected to be as much as 10% higher than previous estimates, Bloomberg reported earlier on Friday. — Ivory Coast’s 2024-2025 cocoa harvest is expected to be as much as 10% higher than previous estimates, Bloomberg reported earlier on Friday.
Photographer: Paul Ninson/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Ezra Fieser

October 18, 2024 at 9:04 PM UTC

This article is for subscribers only.

Higher prices for cocoa and rising exports helped Ivory Coast win a credit rating upgrade from S&P Global Ratings, which boosted the Western African nation a notch closer to investment grade.

S&P raised Ivory Coast’s rating to BB from BB-, two levels from the coveted investment-grade level and on par with the Dominican Republic and Brazil. The outlook is stable.