S&P revises Ghana's credit outlook to negative from stable

Reuters
A man walks past the Standard & Poor's building in New York's financial district
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A man walks past the Standard & Poor's building in New York's financial district February 5, …

(Reuters) - Standard & Poor's Ratings Services revised on Friday its outlook on the Republic of Ghana to negative from stable following a deterioration in the country's fiscal and external position.

"The negative outlook indicates at least a one-in-three possibility that we could lower the ratings on Ghana within the next 12-18 months, due to its weakening fiscal and external profile," the ratings agency said.

For now, S&P has affirmed its 'B' long-term and 'B' short-term foreign and local currency sovereign ratings on Ghana.

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