Glossary
Investment grade
A rating of BBB− (Baa3 at Moody's) or higher: the debt is considered low risk, and most funds may buy it.
Below, the debt is « speculative » (BB+ and lower): the country remains solvent but borrows more expensively, and many pension funds cannot hold its bonds.
In figures, in Africa
| Name | Value |
|---|---|
| African countries rated | 34 / 54 |
| Investment grade | 2 · Botswana, Mauritius |
| Default or close to it | 2 · Senegal, Ethiopia |