The problem with rating models applied to African countries is that they use a narrow definition of risk and don’t take into account qualitative factors.
Articles on Downgrades
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The rating agency demoted the US government’s creditworthiness to AA+, its second-highest ranking, on Aug. 1, 2023.
Downgrades have a devastating effect on economies that are already strained. The decision to downgrade during a crisis like the coronavirus pandemic must be challenged.
