LONDON (Standard&Poor's) Sept. 19, 2007--Standard&Poor's Ratings Services said today that it assigned its 'B+' long-term senior unsecured debt rating to the proposed debut global bond to be issued by the Republic of Ghana (B+/Stable/B). The amount and interest rate, as well as other details of the bond, will be determined during the placement. At the same time, Standard&Poor's assigned a recovery rating of '3', indicating our expectation of a meaningful recovery (50%-70%) in the event of a payment default. "The 'B+' rating on Ghana's bond reflects a blend of default and recovery prospects," said Standard&Poor's credit analyst Farouk Soussa. "According to our criteria, foreign currency bonds of speculative-grade issuers with a '3'
