Ethiopia nears eurobond exchange deal as Fitch flags path out of default
According to Capital Ethiopia, Ethiopia has moved closer to resolving its long-running Eurobond default, with Fitch Ratings indicating that a proposed exchange offer for the country’s $1 billion bond could be completed by the end of 2026, even as the agency kept the country’s Long-Term Foreign-Currency Issuer Default Rating at “Restricted Default” (RD).
What happened
Ethiopia has moved closer to resolving its long-running Eurobond default, with Fitch Ratings indicating that a proposed exchange offer for the country’s $1 billion bond could be completed by the end of 2026, even as the agency kept the country’s Long-Term Foreign-Currency Issuer Default Rating at “Restricted Default” (RD).
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