Mozambique seeks to bar hidden loan conspirators from eurobond restructure
Restructuring documentation seen by Zitamar contains an admission by Mozambique and its advisers that the EMATUM guarantee was never valid
Browsing: Moody’s
Zitamar Daily Briefing, 19 February
Welcome to Zitamar’s daily Mozambique briefing for 19 February, 2019
Agenda:
- Today: Journalist Amade Abubacar’s 32nd birthday. He has been held by the military and police in Cabo Delgado since 5 January
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Zitamar Daily Briefing, 17 January
Welcome to Zitamar’s daily Mozambique briefing for 17 January, 2019.
Agenda:
- Today: Last day of Renamo Congress in Gorongosa
- Tomorrow: Manuel Chang hearing continues in Pretoria, South Africa
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Moody’s warns Mozambique creditor losses will continue rising
Credit rating agency Moody's today said Mozambique’s default on three government-guaranteed loans for maritime security firms “will result in sizeable losses for private creditors”, which could be exacerbated by the government’s attempts to please the [...]
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Mozambique is in default, says rating agency Fitch
Global credit rating agency Fitch has declared Mozambique to be in default, following the government’s formal confirmation that it missed a payment of around $175.5 million on a guaranteed loan in May 2016.
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Mozambique hires lawyers and bankers to advise on debt crisis
Mozambique’s ministry of economy and finance has hired investment bank Lazard and international law firm White & Case to advise on the country’s foreign debt crisis, having decided not to retain one noted expert previously linked with the job.
The Mozambique government provided state [...]
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Moody’s cuts Mozambique rating on fear of multiple defaults
Credit rating agency Moody’s has downgraded Mozambique to Caa3 on fears that more defaults could follow the restructuring of the EMATUM notes earlier this year, and the missed payment on another government guaranteed loan in May 2016.
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Fitch downgrades Mozambique as Moody’s ducks ProIndicus questions
Fitch, the world’s third largest credit ratings agency, has become the first to incorporate revelations over state debt guarantees to ProIndicus and Mozambique Asset Management (MAM) into its rating of Mozambique’s default risk, saying the newly disclosed [...]
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Mozambique’s ‘hidden debt’ crisis: the story so far
A chaotic day for Mozambique’s economy yesterday saw the IMF suspend co-operation with the country over $1 billion in previously undisclosed borrowing, and ended with a $3 billion discrepancy between the finance minister and his spokesman’s estimates of [...]
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EMATUM restructure means Mozambique has defaulted, says S&P
Credit ratings agency Standard & Poor’s has said that Mozambique’s deal to extend the maturity of of almost $700 million in government-guaranteed bonds by three years counts as a government default.
The deal [...]
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