Botswana has retained its investment-grade credit rating, but S&P Global Ratings has kept the country’s outlook negative, signalling that pressure on public finances and the external position remains significant.
In its September 11 assessment, S&P affirmed Botswana’s long-term local-currency rating at BBB- and its short-term rating at A-3. The Bank of Botswana received the same ratings. The BBB- rating sits at the bottom of S&P’s investment-grade scale, indicating adequate capacity to meet financial commitments, although that capacity is more vulnerable to adverse economic conditions than higher-rated borrowers.
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