Gabon’s USD bonds due in 2031 took a hit following a credit risk assessment by Fitch. The bonds fell significantly, making them one of the worst-performing notes in emerging markets. Fitch placed Gabon’s ‘B-‘ issuer default rating on negative watch after the recent military coup in the country. The bonds have been volatile since the coup, although notes due in 2025 saw a rally. Gabon also recently completed a sale of USD 500 mln in bonds, including a political risk insurance contract from the US International Development Finance Corp.