March 3, 2011

Exchange news

Fitch gives Zambia B+, clears path for Eurobond

Fitch Ratings agency has given Zambia a “B+” rating on long-term foreign and local currency, with a stable outlook, which could pave the way for a $500 million Eurobond, according to Standard Bank, but the country has plenty of local deposits seeking homes as local interest rates are attractive and the currency that looks strong.