Ivory Coast Bonds Rise as Fitch Upgrade Hands It Near IG Status in Africa
Farmers drop off their cocoa bean harvest a community buying center in Daloa, Ivory Coast.
Photographer: Paul Ninson/BloombergIvory Coast’s dollar-denominated bonds rose after Fitch Ratings Inc. upgraded the country’s debt, leaving it now just two levels below investment grade at all three major rating companies.
Fitch upgraded the country’s long-term foreign-currency debt rating by one step from BB- to BB, the same level as S&P Global Ratings and Moody’s Ratings.