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Botswana passes first credit rating test

STEADY HAND: S&P researchers said key exchange rate decisions by the Bank of Botswana helped preserve foreign exchange reserves. PIC: MORERI SEJAKGOMO
STEADY HAND: S&P researchers said key exchange rate decisions by the Bank of Botswana helped preserve foreign exchange reserves. PIC: MORERI SEJAKGOMO

Botswana has passed the first of two scheduled credit ratings assessments, with S&P Global affirming the country’s investment-grade rating, the only such status in the region.

The assessment by Moody’s, whose researchers visited the country two weeks ago, is expected soon.

In its assessment released shortly before midnight on Friday, S&P affirmed the country’s long term foreign and local currency credit rating at BBB-, whilst maintaining the negative outlook based on continued weakness in the global diamond industry and the related impact on the economy.

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