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Recovery of loan payments: Moody's places BOAD's rating on watch for downgrade

22/03/2022
Categories: Companies

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The rating agency Moody's has decided to place the Baa1 rating granted to the West African Development Bank (BOAD) under review with a view to downgrading it.

Moody's decision is based on pressure on the quality of the bank's assets due to its inability to collect loan payments from Mali, as well as from borrowers based there. This decision taken on March 18, 2022 follows the sanctions imposed on Mali by the main West African regional institutions of which it is a member.

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