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S&P Downgrades Senegal After Government Unveils Debt Rework
Source: Bloomberg
Sovereign Debt & RatingsEmerging MarketsCredit & Bond MarketsFiscal Policy & Budget
S&P Global Ratings downgraded Senegal further into junk status and said a distressed debt exchange or a foreign-currency commercial-debt default is “extremely likely” after the government launched a restructuring plan. The action heightens credit stress for Senegal’s USD commercial paper and broader EM high-yield sentiment.
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