S&P downgrades Mozambique to CCC and flags rising risk to 2031 Eurobond
On 28 September 2026 Standard & Poor’s downgraded Mozambique’s sovereign rating from CCC+ to CCC and said the likelihood of restructuring the country’s sole outstanding Eurobond maturing in 2031 is increasing amid severe fiscal and FX liquidity pressures.
The desk brief
On 28 September 2026 Standard & Poor’s downgraded Mozambique’s sovereign rating from CCC+ to CCC and said the likelihood of restructuring the country’s sole outstanding Eurobond maturing in 2031 is increasing amid severe fiscal and FX liquidity pressures.
The S&P downgrade directly increases perceived credit risk for Mozambique’s long-dated external debt, lifting premia on the 2031 Eurobond and pressuring yields on similar frontier long maturities. Market participants will watch the IMF’s debt sustainability work closely: any finding implying a financing gap could trigger creditor negotiations, contingent IMF support, and clearer restructuring terms for the 2031 bond.
Publication of the IMF updated debt sustainability analysis or IMF statement on Mozambique’s financing needs.
Sources & verification
Developing storyFurther independent confirmation is required.
- S&P Downgrades Mozambique to CCC Amid Debt Restructuring Risk • 360 Mozambique360mozambique.comSource published (opens in a new tab)
- AMAN - Lusa - Business News - Mozambique: Standard & Poor's downgrades sovereign rating to CCCaman-alliance.org (opens in a new tab)
Public references supporting this brief.
Price Discovery
Mozambique sovereign curve
Latest server-calculated mid yield by maturity. Points are observed Price Discovery levels, not an interpolated valuation curve.
- Moz 31Sept 203191.12511.415%
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