Botswana’s Credit Rating Is Cut by S&P on Diamond Industry Woes
Operations in an underground shaft at a diamond mine in Letlhakane, Botswana.
Photographer: Waldo Swiegers/BloombergS&P Global Ratings cut Botswana’s credit score late Friday, maintaining its investment grade but citing risks to fiscal stability amid diamond industry woes. The ratings company maintained a negative outlook.
The southern African nation’s long-term sovereign credit rating was lowered to BBB- from BBB, while the short-term issuer credit rating dropped to A-3 from A-2.