S&P Global Ratings places Madagascar’s sovereign rating on negative watch after military coup

S&P Global Ratings has announced that it has placed Madagascar’s sovereign rating (‘B-/B’) on CreditWatch with negative implications, while lowering its Transfer and Convertibility (T&C) assessment from ‘B’ to ‘B-‘. This decision follows the military takeover, which occurred after several weeks of anti-government protests that led to the departure of President Andry Rajoelina. The agency…...