S&P Downgrades Senegal After Government Unveils Debt Rework

S&P Global Ratings cut Senegal’s credit score further into junk territory, saying a distressed debt exchange or default on the country’s foreign-currency commercial debt is “extremely likely” after the government launched a plan to restructure its obligations.

S&P Global Ratings cut Senegal’s credit score further into junk territory, saying a distressed debt exchange or default on the country’s foreign-currency commercial debt is “extremely likely” after the government launched a plan to restructure its obligations.