The rating agency GCR Ratings (GCR) has raised the long-term issuer rating of Société Ivoirienne de Câbles (SICABLE) from A (WU) to AA- (WU) to AA- (WU) on its regional rating scale with a stable outlook. For its part, the short-term issuer rating has been raised from A1 (WU) to A1+ (WU)

The increase in SICABLE's rating reflects the solidity of its financial profile, marked by an absence of debt and sufficient liquidity to ensure a comfortable coverage of its short-term needs. SICABLE's strong financial flexibility and robust liquidity position are major assets for its rating. The company's prudent debt policy, characterized by the absence of financial debts, reinforces its solid leverage and cash flow ratios. GCR notes an increase in SICABLE's revenues in 2023, up 8% to reach 17.7 billion CFA francs ($28.2 million), supported by a 6% increase in copper cable sales and a significant 29% growth in trading products. GCR considers that SICABLE's governance is sound