Rating: Ghana Credit Rating 2026

Rating Moody's Ghana

Long term Rating				Short term Rating
Foreign currency		Local currency		Foreign currency		Local currency
Date	Rating(Outlook)	Date	Rating	Date	Rating	Date	Rating

Rating S&P Ghana

Long term Rating				Short term Rating
Foreign currency		Local currency		Foreign currency		Local currency
Date	Rating(Outlook)	Date	Rating	Date	Rating	Date	Rating
2025-11-07	B- (Stable)
2022-12-20	SD
2022-12-06	CC (Negative)
2022-08-05	CCC+ (Negative)	2025-11-07	B-
2020-09-11	B- (Stable)	2023-02-24	CCC+
2020-04-30	(Negative)	2022-12-06	SD
2018-09-14	B (Stable)	2022-08-05	CCC+
2017-10-06	(Positive)	2020-09-11	B-	2025-11-07	B
2014-10-24	B- (Stable)	2018-09-14	B	2022-12-20	SD	2025-11-07	B
2013-12-06	(Negative)	2014-10-24	B-	2022-08-05	C	2022-08-05	C
2010-08-27	B (Stable)	2010-08-27	B	2003-09-04	B	2003-09-04	B

S&P: Long term Rating

Rating Fitch Ghana

Long term Rating				Short term Rating
Foreign currency		Local currency		Foreign currency		Local currency
Date	Rating(Outlook)	Date	Rating	Date	Rating	Date	Rating
		2023-04-21	RD
		2023-03-22	CCC
		2023-02-14	RD
		2022-12-08	C
		2022-09-23	CC
2023-02-21	RD	2022-08-10	CCC
2022-12-21	C	2022-01-14	B-	2022-08-10	C
2022-09-23	CC	2020-04-21	B	2020-04-21	B
2022-08-10	CCC	2019-10-11	B	2019-10-11	B
2022-01-14	B- (Negative)	2019-03-18	B	2019-03-18	B
2020-04-21	B	2018-08-31	B	2018-08-31	B
2019-10-11	B	2017-09-15	B	2017-09-15	B
2019-03-18	B	2017-05-12	B	2017-05-12	B
2018-08-31	B (Stable)	2016-09-29	B	2016-09-29	B
2017-09-15	B (Stable)	2016-07-22	B	2016-07-22	B
2017-05-12	B (Stable)	2016-03-24	B	2016-03-24	B
2016-09-29	B (Negative)	2015-09-18	B	2015-09-18	B
2016-07-22	B (Negative)	2015-03-20	B	2015-03-20	B
2016-03-24	B (Negative)	2014-09-26	B	2014-09-26	B
2015-09-18	B (Negative)	2014-09-19	B	2014-09-19	B
2015-03-20	B	2014-09-12	B	2014-09-12	B
2014-09-26	B (Negative)	2014-09-05	B	2014-09-05	B
2014-09-19	B (Negative)	2014-08-13	B	2014-08-13	B
2014-09-12	B (Negative)	2014-08-05	B	2014-08-05	B
2014-09-05	B (Negative)	2014-07-31	B	2014-07-31	B
2014-08-13	B (Negative)	2014-07-23	B	2014-07-23	B
2014-08-05	B (Negative)	2014-06-27	B	2014-06-27	B
2014-07-31	B (Negative)	2014-06-17	B	2014-06-17	B
2014-07-23	B (Negative)	2014-06-10	B	2014-06-10	B
2014-06-27	B (Negative)	2014-05-27	B	2014-05-27	B
2014-06-17	B (Negative)	2014-05-22	B	2014-05-22	B
2014-06-10	B (Negative)	2014-05-15	B	2014-05-15	B
2014-05-27	B (Negative)	2014-04-30	B	2014-04-30	B
2014-05-22	B (Negative)	2014-04-24	B	2014-04-24	B
2014-05-15	B (Negative)	2014-04-07	B	2014-04-07	B
2014-04-30	B (Negative)	2014-03-31	B	2014-03-31	B
2014-04-24	B (Negative)	2014-03-28	B	2014-03-28	B
2014-04-07	B (Negative)	2014-03-20	B	2014-03-20	B
2014-03-31	B (Negative)	2014-02-26	B	2014-02-26	B
2014-03-28	B (Negative)	2014-01-31	B	2014-01-31	B
2014-03-20	B (Stable)	2014-01-22	B	2014-01-22	B
2014-02-26	B (Stable)	2014-01-16	B	2014-01-16	B
2014-01-31	B (Stable)	2013-12-16	B	2013-12-16	B
2014-01-22	B (Stable)	2013-12-12	B	2013-12-12	B
2014-01-16	B (Stable)	2013-12-03	B	2013-12-03	B
2013-12-16	B (Stable)	2013-11-18	B	2013-11-18	B
2013-12-12	B (Stable)	2013-10-17	B	2013-10-17	B
2013-12-03	B (Stable)	2013-08-09	B+	2013-08-09	B
2013-11-18	B (Stable)	2013-07-26	B+	2013-07-26	B
2013-10-17	B (Stable)	2013-06-07	B+	2013-06-07	B
2013-08-09	B+ (Negative)	2013-05-14	B+	2013-05-14	B
2013-07-26	B+ (Negative)	2013-03-28	B+	2013-03-28	B
2013-06-07	B+ (Negative)	2013-03-07	B+	2013-03-07	B
2013-05-14	B+ (Negative)	2013-02-19	B+	2013-02-19	B
2013-03-28	B+ (Negative)	2012-11-14	B+	2012-11-14	B
2013-03-07	B+ (Negative)	2012-09-21	B+	2012-09-21	B
2012-08-17	B+ (Stable)	2012-08-17	B+	2012-08-17	B
2012-07-06	B+ (Stable)	2012-07-06	B+	2012-07-06	B
2011-09-23	B+ (Stable)	2011-09-23	B+	2011-09-23	B
2010-09-24	B+ (Stable)	2010-09-24	B+	2010-09-24	B
2009-03-03	B+ (Negative)	2009-03-03	B+	2009-03-03	B	2022-08-10	C
2008-02-07	B+ (Stable)	2008-02-07	B+	2008-02-07	B	2020-04-21	B
2006-02-01	B+ (Positive)	2006-02-01	B+	2006-02-01	B	2019-10-11	B
2005-03-17	B+ (Stable)	2005-03-17	B+	2005-03-17	B	2019-03-18	B
2003-12-02	B (Positive)	2003-12-02	B	2003-12-02	B	2018-08-31	B
0000-00-00	B- (Stable)	0000-00-00	B-	0000-00-00	B	0000-00-00	B

Fitch: Long term Rating

Grade	Moody's	S&P	Fitch
Prime	Aaa	AAA	AAA
High grade	Aa1	AA+	AA+
	Aa2	AA	AA
	Aa3	AA-	AA-
Upper medium grade	A1	A+	A+
	A2	A	A
	A3	A-	A-
Lower medium grade	Baa1	BBB+	BBB+
	Baa2	BBB	BBB
	Baa3	BBB-	BBB-
Non-investment grade speculative	Ba1	BB+	BB+
	Ba2	BB	BB
	Ba3	BB-	BB-
Highly speculative	B1	B+	B+
	B2	B	B
	B3	B-	B-
Substantial risks	Caa1	CCC+	CCC+
	Caa2	CCC	CCC
	Caa3	CCC-	CCC-
Extremely speculative	Ca	CC	CC
Extremely speculative			C
In default with little prospect for recovery		SD	RD
In default	C	D	D
			DD
			DDD
Not rated	WR	NR

Grade	Moodys	S&P	Fitch
High grade	P-1	A-1+	F1+
Upper medium grade	P-1	A-1	F1
Lower medium grade	P-2	A-2	F2
Non-investment grade speculative	P-3	A-3	F3
Highly speculative		B	B
Extremely speculative	NP	C	C