S&P downgrades Senegal’s credit rating to junk
Credit rating agency Standard & Poor’s on Friday cut Senegal’s long-term foreign-currency rating to “CC” from “CCC+”, citing a high likelihood that the government’s planned debt restructuring will result in losses for foreign-currency creditors. Senegal’s finances have been under pressure since the 2024 discovery of billions of dollars in debt, hidden by a government no […]