Fitch rates Benin notes B

Fitch Ratings said it assigned a long-term foreign-currency debt rating of B to Benin's €500 million 5¾% notes due in 2026.

The proceeds will be used by Benin to finance priority projects under the 2016 to 2021 government action plan, mostly in the infrastructure, digital economy and electricity sectors, Fitch said.

The rating is in line with Benin's long-term foreign-currency issuer default rating, the agency said.

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