A new credit ratings company tailored to Africa’s sovereign borrowers is set to launch next year, according to Albert Muchanga, the African Union’s commissioner for development, trade, tourism, industry, and minerals. This initiative stems from a growing recognition of the unique challenges faced by African nations in securing fair credit ratings from established international agencies like Moody’s, Fitch, and Standard & Poor’s (S&P). Credit rating agencies, particularly Moody’s, Fitch, and S&P, play a crucial role in assessing the creditworthiness of borrowers, including governments, corporations, and financial products. These agencies analyze the ability of borrowers to meet their debt obligations and…
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