S&P downgrades Botswana as diamond sector faces global headwinds

JOHANNESBURG – S&P Global Ratings on Friday cut Botswana’s long-term foreign and local currency sovereign credit ratings to “BBB-” from “BBB,” citing structural weakness in the global diamond market that will weigh on the country’s minerals-dependent economy for longer than expected. The ratings agency also lowered the country’s short-term foreign and local currency sovereign credit […]