Fitch
Coverage of Fitch in the Nexus archive.
- Braskem Hits Near-Default Grade Even as Its Shares Rally
Fitch and S&P downgraded Braskem to near-default grades, citing its court shield against creditors as a default-like process. Despite the downgrade, Braskem's shares rose nearly six percent the same day.
- Brazil Raids Digimais as Fitch Warns Edir Macedo’s Bank May Fail
Brazil's Federal Police raided Digimais, the bank owned by billionaire bishop Edir Macedo, freezing 670 million reais over alleged accounting fraud. Fitch warned that the bank may fail.
- Church-Owned Bank Digimais Is the Next Test of Brazil’s Master Crisis
Ratings agency Fitch downgraded Brazil’s Digimais, warning of a real possibility of failure. The mid-sized lender is controlled by billionaire Edir Macedo, founder of a global Pentecostal church. Its troubles worsened after the collapse of Banco Master, Brazil’s largest bank.
- South Africa Wins First Fitch Upgrade in 21 Years as Fiscal Discipline Pays Off
Fitch upgraded South Africa's credit rating from BB- to BB on June 5, marking its first upgrade in 21 years. The move follows four years of fiscal surpluses, bringing the country closer to investment grade.
- Fitch Cuts Outlook on Brazil’s Banks to ‘Deteriorating’
Fitch downgraded its outlook on Brazil's banks to 'deteriorating' from 'neutral', citing weaker asset quality and political risk. The same outlook was applied to Colombia and Mexico.
- Ghanaian president woos investors during UK visit
Ghana secured private sector deals worth £215 million during President John Dramani Mahama's UK visit, aiming to attract investment after recovering from an economic crisis. The country exited a $3 billion IMF bailout program and targets an investment-grade credit rating within three years, while addressing concerns about mispriced African debt and restructuring tools.
- Fitch Cuts Bangladesh Outlook to ‘Negative’ as Iran War Weighs
Fitch has cut Bangladesh's outlook to 'Negative' due to the Iran war. This change in outlook may impact Bangladesh's economy and development. The country's stability is being weighed by the ongoing conflict.
- Ghana’s Credit Rating Upgraded by Fitch on Improved Finances
Ghana's credit rating has been upgraded by Fitch due to improved finances. The country is led by President John Mahama. This upgrade indicates a positive outlook for Ghana's financial situation.
- Argentina Upgraded by Fitch on Milei’s Economic Overhaul
Argentina's president Javier Milei delivered the annual state of the nation address, dedicating it to insults towards his opponents. This comes after a series of legislative victories. Fitch upgraded Argentina due to Milei's economic overhaul.
- Fitch Cuts Mozambique’s Rating, Citing Probable Bond Default
Fitch Ratings downgraded Mozambique's credit rating due to a probable bond default. Mozambique missed a $119 million payment on a Credit Suisse loan, marking the second such default in two months.
- Fitch Sees Mozambique Restructure Its Debt Before New IMF Deal
Fitch predicts Mozambique will restructure its debt prior to finalizing a new agreement with the International Monetary Fund (IMF). The article references an aerial photo of Maputo, Mozambique's capital, taken in 2025.