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Fitch Ratings has assigned Benin's EUR500 million 5.75% notes maturing 2026 a long-term foreign currency 'B' debt rating.

 

The net proceeds from the notes will be used by Benin to finance priority projects under the 2016-2021 Government Action Plan (PAG), mostly in the infrastructure, digital economy and electricity sectors.

KEY RATING DRIVERS

The rating is in line with Benin's Long-Term Foreign-Currency Issuer Default Rating (IDR), which Fitch assigned at 'B' with a Positive Outlook on 8 March 2019.

 

RATING SENSITIVITIES

The bonds' rating is sensitive to changes in Benin's Long-Term Foreign-Currency IDR.

 

  • Africa Investor Summit 2018
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