Two 59%+ winners, four above 25% in Aug – How this AI model keeps picking winners
Investing.com -- S&P Global downgraded Senegal’s sovereign credit rating to B- on Monday and placed it on a negative outlook, signaling potential further downgrades due to concerns about the country’s rising debt levels.
The rating agency revised its estimate of Senegal’s debt-to-GDP ratio for last year to 118%, up from its previous forecast of 104%, following an audit that prompted the country to increase its reported debt figures.
S&P explained that the negative outlook reflects worries that the higher debt figure, combined with larger-than-expected financing needs this year and substantial debt payments due next year, will "intensify funding pressures on the government."
The rating agency also noted that Senegal’s external financing requirements are significantly higher than previously estimated, which could complicate the country’s negotiations for a new program with the International Monetary Fund.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.