The country's rating was higher than countries like Poland, Czech Republic, Hungary, Mexico and South Korea. The service placed Botswana at par with countries such as Israel, Greece, Slovenia and Cyprus. Gaborone's rating was above the credit ratings of leading African countries like South Africa, Egypt and Tunisia. While South Africa and Tunisia are four notches below Botswana, Egypt is five ranks down the ladder from the diamond-rich southern African nation. During the rating process which took place in February 2001, the international firm of JP Morgan acted as adviser to the Botswana government.
Credit rating is a long-term commitment that is reviewed on an annual basis.
The new development means that it would be easier and cheaper for the Botswana government and companies based in the country to access loans from the international market. The credit rating company also assigned a stable outlook to the Botswana ratings. Sovereign credit ratings are an international standard for measuring the economic strength and credit worthiness of a country. Countries rated at triple A or Aaa are considered to offer exceptional financial security, while those rated double A offer excellent financial security. Those rated single A like Botswana offer good financial security.