Fitch downgrades Suriname on missed payment

Fitch downgrades Suriname on missed payment

Bonds Debt Capital Markets Corporate & Sovereign Strategy Economy & Policy Fixed Income Suriname

Fitch Ratings said Monday that it downgraded Suriname's long-term, foreign-currency ratings to C from CC on the the view that "a process of default has begun" after the country missed a scheduled interest payment. Suriname said on October 22 that it intended to enter a 30-day grace period for a $25.4 million payment on its $550 million in 9.25% 2026 bonds, adding that it will use the extra time "to engage with its external financial creditors and international partners" to come to "a constructiv

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