Moody's cuts Niger's issuer rating to Caa3 from B3 with negative outlook

Moody’s Investors Service has downgraded Niger"s issuer rating to Caa3 from B3, with a negative outlook. This decision was made in light of collapsed market confidence and risks of default following the coup in 2023, as well as the impact of sanctions and cuts in international aid.

The downgrade has led to a sharp decline in bond values, exacerbating existing fiscal strains in the country. The situation reflects ongoing economic challenges faced by Niger in the aftermath of the political upheaval.

This development follows a pattern observed in other regions, such as Madagascar, where political instability has similarly affected economic conditions. For more on related coverage, see recent developments in Madagascar.

As the situation evolves, further assessments from financial institutions may be anticipated.