Inside Credit features the latest credit market research, with our weekly recap of noteworthy content across all sectors and regions. We'll assume you're ok with this, but you can opt-out if you wish. Cross-Sector Criteria explain Fitchâs approach to topics that relate to multiple areas or audiences. Swipe left to see all data. The copper producers issuer default rating is now pegged at CCC from B- (negative outlook) in October 2018.
Fitch affirmed Zambia’s ‘CCC’ rating in December 2019, noting the high and rising government debt in the context of an ambitious capital expenditure programme. In early March Fitch gave Zambia a B+ credit rating with a stable outlook.
This file opens in a new window Fitch Full Rating Report | 7 July 2020 | pdf. Zambia’s current account last was in surplus in 2014, prior to the collapse in copper prices. Zambia’s 2020 Budget could increase risks to the sovereign’s external debt sustainability unless new sources of grant funding or concessionary lending are found, Fitch Ratings says. BlackRock's licence approval by the Chinese regulator and JPMorgan's completed acquisition of China International Fund Management (CIFM) enable both managers to enter the Chinese investment management market in full. Africa's second largest copper producer Zambia had its credit assessment lowered further into junk status by Fitch rating agency. The Zambian government further said in a statement that they are still engaging with the International Monetary Fund (IMF) to secure financial assistance. Zambia has received its first sovereign credit rating from an international rating agency. The country’s senior unsecured foreign currency bonds were also downgraded this week. Our people are credit experts, experienced professionals, and global citizens who collaborate in offices in over 30 countries, to help our clients and communities. Fitch Ratings provides forward-looking credit opinions, as indicated by its ratings, that reflect its expectations of credit behavior over a range of scenarios. The government says the 2020 National Budget has underperformed largely due to the impact of the COVID-19 pandemic. The government has announced the deferment of the Census of Population and Housing from 2020 to 2021. Fitch joins Moody’s in cutting Zambia’s credit rating A man tries on a face mask at a pharmacy in Kitwe, Zambia. Long term Rating Short term Rating; Foreign currency Local currency Foreign currency Zambia’s official gross international reserves were USD1.4 billion as of end-March 2019, down from USD1.6 billion at end-December 2018.