The rating agency GCR Ratings (GCR) affirms the long-term issuer rating of ONATEL-SA (Moov Africa Burkina Faso) of A (WU) of A (WU) on its regional rating scale with a negative outlook.

The rating of ONATEL-SA (Moov Africa Burkina Faso) is based on the solidity of its financial profile, anchored by the company's ability to maintain high margins and robust financial leverage levels. The agency expects the company to continue to show similar profitability, despite the security situation in Burkina Faso, which limits the growth potential of its activities. The profitability of ONATEL-SA (Moov Africa Burkina Faso) remains the main strength of its rating despite the downward trend in its revenues (2023:139.2 billion FCFA (2023): 139.2 billion FCFA (2023): 139.2 billion FCFA (2023): 139.2 billion FCFA (2023): 139.2 billion FCFA (2023): 139.2 billion FCFA (2023): 139.2 billion FCFA ($229 million); 2022:145.6 billion FCFA; 2021:154.6 billion FCFA; 2021:154.46 billion FCFA 9 billion FCFA; 2020:157.4 billion FCFA), mainly due to the intensity of the competitive struggle on the telephone market in a security context that is struggling to normalize. GCR expects the company to continue to show similar profitability, despite the security situation in Burkina Faso which limits the growth potential of its activities

The perspective attached to the ONATEL-SA rating is justified by the fact that the operator should continue to generate adequate profit margins due to the stability of its cost structure, which would support solid financial levers.