Sovereign Analysis /
Zambia

Zambia: Upgrade to Hold amid restructuring progress and sharp sell-off

  • Zambian eurobonds have fallen sharply this year from cUS$80 to below US$50 last week, in line with our Sell rating

  • There has been notable progress on restructuring talks, which could pave way for staff-level IMF agreement soon

  • The bonds now look appropriately priced after the sell-off and restructuring progress; we upgrade to Hold

Zambia: Upgrade to Hold amid restructuring progress and sharp sell-off
Patrick Curran
Tellimer Research
22 July 2022
Published byTellimer Research

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