Gabon Dollar Bonds Slide After Fitch Downgrade Deeper Into Junk
- Delay to IMF program may heighten liquidity strain, Fitch says
- Nation has been ruled by a junta that staged coup in 2023
This article is for subscribers only.
Gabon’s dollar bonds fell for the first day in 10 after Fitch Ratings downgraded the country deeper into junk.
The extra yield investors demand to own the country’s dollar debt rather than Treasuries widened 36 basis points to 735 on Monday, according to JPMorgan Chase & Co. data. The rate on the nation’s 2031 bonds jumped 21 basis points to 11.35% — the most since Dec. 20.