The financial rating agency Fitch Ratings maintained the BOAD rating at 'BBB'. The outlook has downgraded

Fitch's rating reflects uncertainties about the bank's ability to maintain the quality of its loan portfolio, in a context where two of its debtors, Guinea-Bissau and Niger, are showing signs of financial fragility. The boad certainly benefits from an ongoing capital increase, which should strengthen its solvency, but the rating agency remains cautious about the potential impact of the operating environment on the bank. According to Fitch, “following the subscription to the new capital increase, the share of the Central Bank of West African States (BCEAO) in capital fell sharply, from 47% to 36%, resulting in a weakening of our assessment of the ability of shareholders to support 'bb' (compared to 'bbb-