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Fitch lifts Ivory Coast rating to BB, assigns a stable outlook

African woman with basket on her head. Photo by Ariel Nathan Ada Mbita @ Unsplash
African woman with load on her head. Photo by Ariel Nathan Ada Mbita @ Unsplash
  • Rare direct Fitch upgrade boosts investor confidence
  • Strong growth and fiscal discipline underpin outlook

 

ABIDJAN, CÔTE D’IVOIRE – Fitch Ratings has upgraded Ivory Coast’s sovereign credit rating, signalling rising confidence in the West African economy among global investors.

The ratings agency raised Côte d’Ivoire’s long-term foreign-currency issuer default rating to “BB” from “BB-”, assigning a stable outlook, in a move that places the country among the highest-rated sovereigns in sub-Saharan Africa.

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