On Tuesday, August 22, GCR Ratings (“GCR”) raised the SIFCA Group's long-term issuer rating from 'A- (WU) 'to 'A+ (WU)' on its regional rating scale with a stable outlook. It has been granted the short-term issuer rating of 'A1 (WU) '

The raising of the SIFCA Group's rating from 'A- (WU) 'to 'A+ (WU)' is based on improving its financial flexibility supported by strengthening the coverage of its net debts with its gross operating surplus (EBITDA). Indeed, the SIFCA Group's rating is supported by a solid financial profile, which shows increased consolidated revenues (AF22: +16.1%). The competitive position of the SIFCA Group represents a major strength in its rating. The Group is the leader in natural rubber production in Côte d'Ivoire with a market share of 18% and in palm oil production in Côte d'Ivoire with a market share of around 60%.