S&P cuts Senegal’s rating to near 26-year low after debt restructuring

S&P Global Ratings has downgraded Senegal's long-term foreign-currency sovereign rating to CC from CCC+. The downgrade follows the government's planned debt restructuring, which S&P views as a distressed exchange. The rating cut brings Senegal's rating to near a 26-year low. The move reflects heightened risks to the country's debt sustainability.

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