Summary-Botswana Rating Lowered To 'BBB' On Falls In Diamond Revenue And Deteriorating Fiscal Position; Outlook Negative

On 12 September 2025, S&P Global Ratings (S&P) released an update on Botswana’s sovereign credit rating. The Rating Agency downgraded the country’s long-term sovereign credit ratings for both foreign and local currency debt, from 'BBB+' to 'BBB'.