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Finance: GCR again awards Servair Abidjan a long-term A (WU) rating

31/07/2024
Source : ORISHAS-FINANCE
Categories: Economy/Forex

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The GCR Ratings (GCR) rating agency awarded a long-term issuer A (WU) rating awarded a year ago to Servair Abidjan a year ago for its July 2024 rating.

GCR announced that “Servair Abidjan's rating is based on its healthy financial situation, characterized by robust margins and by a prudent debt policy that promotes solid financial flexibility.” The agency indicated that the company has a high capacity to generate substantial operating cash flows, sufficient to finance its investments and pay dividends, thus reducing the need for debt and providing it with a comfortable liquidity cushion. The competitive position of Servair Abidjan style="font-family: "Bookman Old Style”, "serif"> is also strengthened by the signing in 2024 of an agreement with the Ivorian government for the renewal of the public service concession contract. , offering better visibility on the sustainability of its airline catering activities, representing 79% of its revenues

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