Fitch affirmed Zambia’s RD (Restricted Default) rating, while The Long-Term Local-Currency Issuer Default Rating (LTLC IDR) was upgraded to CCC+ from CCC. The RD follows Zambia’s default on a Eurobond interest payment in October 2020. The government announced that it would stop servicing all its external debt, excluding multilateral debt and some priority project loans, and applied for debt relief under the G20 Common Framework.