Bloomfield confirms A- rating for 2020 with a Stable Outlook from FAGACE
The African Guarantee and Economic Cooperation Fund (FAGACE) has been involved in a voluntary financial rating process for almost three (3) years.
For the second consecutive year, FAGACE obtained the following marks:
– in the long term the A- rating, with a stable outlook (investment rating),
– in the short term the A2 rating, with a stable outlook (investment rating).
The Bloomfield firm notes that these ratings reflect, in the long term, high credit quality and good protection factors. Furthermore, in the short term, the report indicates that the certainty of timely repayment is good. The liquidity factors and essential elements of the companies are healthy. Although ongoing financing needs may increase total financing requirements, access to capital markets is good and risk factors are minimal.
This rating is also based on the implementation of the 2017-2020 strategic plan with the revision of internal procedures, actions to strengthen the risk management system, the coherence of the new strategy through the 2021-2025 Plan which provides for further modernization of FAGACE.
With the renewal of its rating, Bloomfield confirms the solidity of FAGACE’s fundamentals, under the same conditions, in a context of global economic crisis.
Indeed, these results constitute the achievements of the profound transformations observable and in working order within the Fund in recent years in accordance with the best standards in terms of governance standards, financial, prudential and operational standards in order to respond more effectively to the expectations of the Fund. financial market.
