S&P Global Ratings has indicated that the looming threat of a super El Niño is unlikely to trigger widespread sovereign credit rating downgrades across Africa. Lead analyst Joydeep Mukherji stated that while weather-related disruptions are a risk, ratings are designed to absorb temporary shocks. The primary threat to sovereign creditworthiness remains how governments choose to respond; analysts warned that excessive fiscal spending on subsidies or bailouts to mitigate weather impacts could weaken public finances and negatively affect ratings. Countries with flexible exchange rate regimes are viewed as better positioned to manage these climate-driven economic pressures.