S&P rates Senegal bonds B+

Standard & Poor's said it assigned its B+ long-term senior unsecured debt ratings to the proposed debut dollar bond to be issued by the Republic of Senegal (B+/stable/B) by the end of this year.

The amount and interest rate, as well as other details of the bond, will be determined during the placement.

At the same time, S&P assigned a recovery rating of 4 to the proposed bond, indicating the agency's expectation of 30%-50% recovery in the event of a payment default.

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