Ghana’s restructured eurobonds gain on second day of trading

Ghana’s restructured eurobonds rose on the second day of trading after Fitch Ratings deemed them out of default. The 2029 bonds gained 0.4 cent, while 2037 bonds appreciated by 1.5 cents.

Ghana issued five new dollar bonds as part of a $13 billion eurobond restructuring. Fitch rated the securities CCC+, signaling that they were no longer in default despite credit risks.

Moody’s also upgraded Ghana's foreign currency issuer rating to Caa2, improving the outlook to positive. Zero-coupon bonds due in 2026 and 2030 also saw gains, with a 5% 2035 note remaining stable.

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