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.
