ֳ

Entity

Ethiopia

EU Endorsed, UK Endorsed; Solicited by or on behalf of the issuer (sell side)

ESG Relevance
1
2
3
4
5

01Ratings

RatingActionDateType
RDAffirmed25-Oct-2024Long Term Issuer Default Rating
CAffirmed25-Oct-2024Short Term Issuer Default Rating
B-Affirmed25-Oct-2024Country Ceiling
CAffirmed25-Oct-2024Local Currency Short Term Issuer Default Rating
CCC+Upgrade25-Oct-2024Local Currency Long Term Issuer Default Rating
Ratings KeyOutlookWatch
Positive
Negative
Evolving
Stable 

* Ratings displayed in orange denotes EU or UK Unsolicited and Non-Participatory Ratings

Where there was a review with no rating action (Review – No Action), please refer to the “Latest Rating Action Commentary” for an explanation of key rating drivers

*Premium Content is displayed in ֳ Red

Rating History

Date :25-Oct-202427-Dec-202314-Dec-202302-Nov-202320-Dec-202214-Jul-202227-Jan-202209-Feb-202130-Jun-202001-Oct-201923-Nov-201805-Jul-201821-Dec-201708-Jun-201707-Oct-201608-Apr-201609-Oct-201510-Apr-201507-Nov-201409-May-2014
Rating :RDRDCCCCCC-CCCCCCCCCBBBBBBBBBBBB
Action :AffirmedDowngradeDowngradeDowngradeDowngradeUnder Criteria ObservationAffirmedDowngradeAffirmedAffirmedAffirmedAffirmedAffirmedAffirmedAffirmedAffirmedAffirmedAffirmedAffirmedNew Rating

02Rating Actions

03Insights

Rating Report / Fri 08 Nov, 2024

Ethiopia

Rating Report / Wed 22 Nov, 2023

Ethiopia

Rating Report / Tue 31 Jan, 2023

Ethiopia

Rating Report / Tue 31 May, 2022

Ethiopia

Rating Report / Mon 15 Mar, 2021

Ethiopia

Rating Report / Thu 30 Jul, 2020

Ethiopia

Navigator Report / Wed 15 Jul, 2020

Ethiopia

04Sector Outlooks

05Securities and Obligations

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Issuer: Ethiopia
Debt Level: senior unsecured
Issue: USD 1 bln 6.625% Gov Bonds 11 Dec 2024
25-Oct-2024
D
Affirmed
Long Term Rating

Rating History
Country: Ethiopia
Sectors: Sovereigns
Disclosures: EU Endorsed, UK Endorsed; Solicited by or on behalf of the issuer (sell side)
senior unsecured; bond/note
CUSIP: 29766LAA4 (144A)
ISIN: US29766LAA44 (144A)
ISIN: XS1151974877 (Reg S)
Maturity Date: 11-Dec-2024
Currency: USD
Amount: 1,000,000,000
Coupon Rate: 6.625%
Placement: Reg S
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06Disclosures

Original Rating Date
Long Term Issuer Default Rating09-May-2014
Short Term Issuer Default Rating09-May-2014
Country Ceiling09-May-2014
Local Currency Short Term Issuer Default Rating22-Jul-2016
Local Currency Long Term Issuer Default Rating09-May-2014
Endorsement Status
EU Endorsed, UK Endorsed
Country of ֳ Office
HONG KONG, CHINA
Solicitation Status
Long Term Issuer Default RatingSolicited - Sell Side
Short Term Issuer Default RatingSolicited - Sell Side
Country CeilingSolicited - Sell Side
Local Currency Long Term Issuer Default RatingSolicited - Sell Side
Local Currency Short Term Issuer Default RatingSolicited - Sell Side
Country of Analyst
HONG KONG, CHINA

07Identifiers

Type:CUSIP
Identifier:29766L

08Criteria

24Oct
2024
Active Criteria
Sovereign Rating Criteria
24Jul
2023
Active Criteria
Country Ceiling Criteria
06Apr
2023
Expired Criteria
Sovereign Rating Criteria - Effective from 6 April 2023 to 24 October 2024
11Jul
2022
Expired Criteria
Sovereign Rating Criteria - Effective from 11 July 2022 to 6 April 2023
26Apr
2021
Expired Criteria
Sovereign Rating Criteria - Effective from 26 April 2021 to 11 April 2022
More Criteria

09Analysts

Kathleen Chen
Primary Rating Analyst

Thomas Garreau
Secondary Rating Analyst

Credit-Relevant ESG Scale

How relevant are E, S and G issues to the overall credit rating?

5
Highly relevant, a key rating driver that has a significant impact on the rating on an individual basis. Equivalent to "higher" relative importance within Navigator.
4
Relevant to rating, not a key rating driver but has an impact on the rating in combination with other factors. Equivalent to "moderate" relative importance within Navigator
3
Minimally relevant to rating, either very low impact or actively managed in a way that results in no impact on the entity rating. Equivalent to "lower" relative importance within Navigator.
2
Irrelevant to the entity rating but relevant to the sector.
1
Irrelevant to the entity rating and irrelevant to the sector

* ESG Relevance is applicable for international scale ratings only

Ratings KeyOutlookWatch
Positive
Negative
Evolving
Stable 

* Ratings displayed in orange denotes EU or UK Unsolicited and Non-Participatory Ratings

Where there was a review with no rating action (Review – No Action), please refer to the “Latest Rating Action Commentary” for an explanation of key rating drivers

*Premium Content is displayed in ֳ Red