Credit rating downgrade: what it means for Zambia

FITCH ratings, a prominent global credit rating agency, recently downgraded Zambia’s credit rating from ‘B+’ to ‘B’ and placed the outlook for credit risk at stable. This announcement came barely days after Standard and Poor’s, another globally renowned credit rating agency, maintained the country’s credit rating at ‘B+’ but warned that the outlook for credit risk is negative, implying that it is likely to be downgraded soon.