Moody's confirmed the West African Development Bank's (BOAD) long-term rating of the foreign currency issuer and the unsecured senior debt of the West African Development Bank (BOAD) in Baa1 with a stable outlook.

Confirmed. The BOAD rating is confirmed to Baa1 by Moody's Investors with a stable outlook. This decision is motivated by the decision, on 3 July 2022, of the ECOWAS heads of State to lift the economic and financial sanctions that they had imposed on Mali and to impose them on Burkina Faso. Moreover, the initiatives launched by the bank to strengthen its credit profile are also a fact. For its part, the stable outlook is justified by Moody's expectations vis-à-vis BOAD. From maintaining its financial strength, to successfully implementing its Djoliba 2021-2025 strategic plan, to significantly expanding its portfolio to support its members without compromising asset quality. It should be noted that positive pressure would be likely on BOAD's Baa1 credit rating if it were able to significantly strengthen its capital adequacy measures while maintaining strong levels of asset performance, liquidity, and funding.