Dégradation de la notation du Sénégal : Ce qui a "fait mal" à Moody’s et S&P Global Ratings, selon un DG
As reported earlier by Seneweb, S&P Global Ratings further downgraded Senegal's credit ratings yesterday, Friday. This downgrade is beginning to elicit reactions from members of the Pastef party. Babo Amadou Bâ, a finance specialist and CEO of 3FPT, offered his perspective on the new rating.
"Rating agencies: Moody's and S&P, they closed the international market. With the TRS, Senegal attracts investors to the regional public securities market. Lolou mooleen méti (Editor's note: That's what hurt them in French)," he posted on his Facebook page.
Indeed, as announced earlier by Seneweb, S&P Global Ratings lowered Senegal's local currency credit rating (long and short term) from B-/B to CCC+/C on Friday, with a negative outlook.
According to the S&P Global Ratings rating grid, the CCC+/C rating indicates a very high credit risk and significant vulnerability, characterized by liquidity pressures and dependence on economic conditions.
The agency also said it affirmed its foreign currency ratings (long- and short-term) at CCC+/C, with a negative outlook. "We have removed all ratings from the credit watch list with evolving implications," the rating agency added.
She explains that the negative outlook "reflects the persistent risks associated with refinancing Senegal's high level of public debt in a context of deteriorating global financing conditions and a lack of progress in securing significant multilateral support that could restore access to less costly concessional financing and alleviate liquidity pressures."
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