...December 2, 2019 MELBOURNE (S&P Global Ratings) Dec. 3, 2019--S&P Global Ratings today said that Perenti Global Ltd.'s (##/Stable/--) cessation of work at two contract sites in Burkina Faso underscores the risk of operating in higher-risk African jurisdictions. Our rating incorporates the material risks of operating in higher-risk African jurisdictions. We view Perenti's decision to swiftly evacuate its workforce and redeploy its assets as prudent. We believe the group continues to manage its jurisdictional risks appropriately, given its long track record of operations on the African continent. We note that the group has about 45% of total revenues from Australia-based projects, which we consider to be a low-risk jurisdiction. Perenti's African Mining Services (AMS) division declared a "force majeure" event regarding its Boungou project in Burkina Faso after a substantial security incident. The company evacuated its staff from the site and has also decided to exit the Bissa contract in...
