StanChart sees higher risk of ratings downgrade

Friday, June 05, 2026 | 120 Views |

Under pressure: Technocrats at the Finance Ministry are scrambling to avoid a ratings downgrade this September

Standard Chartered (StanChart) is seeing an elevated risk of a further sovereign credit rating downgrade for the country when the agencies announce their opinions this September, due to higher fiscal risks and delays to much-needed reforms.

S&P is due to unveil a ratings decision on the country in September, following a historic downgrade in March, which landed Botswana just one notch above junk status. Junk status is the level at which sovereign debt is considered speculative by international investors, meaning funders place more doubt on the country’s ability to repay and thus apply higher premiums on any debt disbursed.

Moody’s traditionally announces its decisions in October.

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