Botswana�s credit rating upheld

In a statement issued by the Bank of Botswana (BoB) last week, the US-based ratings agency reaffirmed the ratings of ‘A-’ for long-term bonds and ‘A-2’ for short term bonds in domestic and foreign currency denominated borrowing.

S&P observed that the ‘A-/A-2’ ratings have appropriately taken account of the enduring impact of the ongoing global commodity price shock, including challenges posed by the utilities sector and drought on the country’s fiscal position and economic activity.