Africa sovereign credit rating review: 2023 mid-year outlook

Abstract

This report analyses the long-term foreign currency sovereign credit rating actions in Africa by the three dominant international credit rating agencies (CRAs) – Moody’s Investors Service, Fitch Ratings and S&P Global (S&P) – during the first half of 2023 (2023H1) and makes recommendations to both CRAs and African governments on how credit ratings can be improved..