The financial rating agency GCR has confirmed the ratings of AAA (wu) as a long-term issuer and unsecured senior bond loan from Société Nationale des Télécommunications du Sénégal SA (SONATEL). The outlook remains stable.

GCR ratings (GCR) affirmed the long-term issuer rating of Société Nationale des Télécommunications du Sénégal SA (SONATEL) by AAA (WU) from AAA (WU), the maximum rating on its regional scale. The rating of the National Telecommunications Company of Senegal (SONATEL) is based on its solid competitive position as the main mobile telecommunications operator in its markets of presence, allowing it to maintain high and growing revenues, thus supporting substantial margins. SONATEL's rating includes the operational support of its shareholder Orange Middle East and Africa (OMEA), which allows it to benefit from its expertise through its operational support, and from the distribution of quality services

SONATEL's Financial Profile constitutes a case of force majeure for its rating. The group's revenues are robust and constantly increasing, with an increase of +11.4% in fiscal year 2023 (December 31, 2022: +9%; December 31, 2021: +10.7%; December 31, 2020: +10.7%; December 31, 2020: +2.3%; December 31, 2019: +7.3%