The international financial rating agency Fitch Ratings has just notified the West African Development Bank (BOAD) of the renewal of its "Investment Grade" "BBB" rating with a negative outlook. The decision was taken following the agency's annual review.

The negative outlook reflects the risk of weakening the bank's shareholder support. According to Fitch, given the role played by the France in the CFA franc monetary system as a guarantor of the convertibility of the currency against the euro, a downgrade of the rating of the France to " AA- " would affect our assessment of the credit quality of the bank's largest shareholder, the BCEAO.

" The rating awarded by FICTH Ratings confirms BOAD's financial strength, reflecting its resilience in the face of the Covid-19 health crisis, as well as the intrinsic quality of its signature, which remains one of the three best on the African continent," reads a press release from the institution.