‘Eurobond holders key players to Zambia’s credit rating’
Published On August 4, 2022 » 483 Views» By Times Reporter » Business, Stories
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By MAIMBOLWA MULIKELELA-
ZAMBIA’s improved credit ratings are currently depending on reaching a debt repayment agreement with private creditors who are Eurobond holders despite obtaining financial assurances from the creditors’ committee.
The country, which is currently in default rated by international rating agencies, has outstanding dollar bonds of US$3 billion maturing 2022, 2024 and 2027.
International rating agencies – Standards and Poor’s, Fitch and Moody’s downgraded Zambia’s foreign currency rating after Zambia skipped coupon payments in the COVID-19 pandemic period.

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