We fully publish under the Bloomfield Rating Agency, which will no longer be able to guarantee the credit quality of the Senegal National Electricity Company (Senelec).
"On Tuesday, October 23, 2018, we informed that Senelec wanted to withdraw from the Bloomfield Investissement financial appraisal process.
Therefore, we are informing the entire financial market of WAEMU that the entire African rating agency Bloomfield Investment Corporation, approved by the State Auctions and Financial Markets Council, will no longer be able to guarantee credit quality. Senelec (bond market issuer) from 1 November 2018; the current rating expired on October 31, 2018.
As a result, since November 1, the issuance of Senelec 2018-2025 bonds has ceased to be an issue of default.
We prepare this press release in accordance with Article 16 (1) of the Instructions on the operating conditions of financial rating agencies in the WAEMU regional financial market. "
Signed in Abidjan on 1 November 2018