December 11, 2020
Fitch Ratings said Thursday that it lifted Suriname's sovereign credit ratings out of default after bondholders agreed to wait until March next year to receive interest payments on the country's 2023 and 2026 notes.
Fitch upgraded Suriname to C from RD, or restrictive default, saying the standstill agreement with creditors signalled the "completion of a distressed debt exchange (DDE) event."
Suriname closed a deal on December 4 to reschedule $48.5 million in debt service payments from October an
South American nation's sovereign ratings rise out of default after creditors agree to wait till March for payment