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Zambia’s Missed Eurobond Payment Prompts Default Call by S&P
HARARE (Capital Markets in Africa) — S&P Global Ratings Services cut its assessment of Zambia’s debt to selective default after the southern African nation said it couldn’t meet payments and skipped a coupon on its Eurobonds last week. The action is the latest blow to Africa’s second-biggest copper producer, which is trying to convince bondholders to give it a six-month interest-payment holiday while it drafts debt-restructuring plans. The rating company, which didn’t wait for a…
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