the short term, the rating reflects the good certainty of timely repayment. Liquidity factors and corporate essentials are healthy. Although ongoing financing needs may increase total financing requirements, access to capital markets is good. Risk factors are minimal. La notation est basée sur les facteurs positifs tels que “un renforcement continu du dispositif managérial; une improvement of the commercial margin thanks to a cost reduction policy implemented; une significant change in performance indicators driven by good cost control; a diversification strategy in perspective”.

In addition, the main factors of credit quality are, among others, “a mixed record of the implementation of the 2019-2023 strategic plan; a financial structure that remains unbalanced; a non-compliance with certain provisions relating to... regulations of and BRVM OHADA; and significant impact of international geopolitical tensions on