S&P Global raises the outlook for Ivory Coast from stable to positive.

Côte d'Ivoire, the world's largest cocoa producer, has surpassed South Africa to become the highest-rated sovereign country in sub-Saharan Africa in terms of outstanding external debt. The total external debt of a country represents the amount of gross external debt not due as of December 31 of the current year. The outlook for Côte d'Ivoire changed to positive due to what the ratings firm S&P Global Ratings described as an improvement in the debt profile, while the outlook for South Africa remained stable. According to Samir Gadio, Africa Strategy Manager at Standard Chartered, “Côte d'Ivoire's rating trajectory over the past ten years has been impressive.” S&P expects commodity exports to increase over the

For Sébastien Boreux, Principal Credit Analyst at S&P, “the positive outlook reflects our vision that increased commodity exports could significantly reduce external and fiscal imbalances.”