Burkina Faso 'B-/B' Ratings Affirmed; Outlook Stable

OVERVIEW Following a short-lived coup d?état in September 2015, presidential and legislative elections initially scheduled for Oct. 11 took place on Nov. 29. We believe the coup attempt and preceding political uncertainty have hurt economic activity, external liquidity, and public finances. We forecast that economic activity will start to rebound in 2016, however, assuming a smooth political transition. We are therefore affirming our 'B-' long-term and 'B' short-term foreign and local currency sovereign credit ratings on Burkina Faso. The stable outlook indicates that upside and downside risks to the rating are balanced, depending on political developments, which we believe will become clear within the next six months. RATING ACTION On Dec. 4, 2015, Standard&Poor's Ratings Services affirmed its

...OVERVIEW Following a short-lived coup d'Ttat in September 2015, presidential and + legislative elections initially scheduled for Oct. 11 took place on Nov. 29. We believe the coup attempt and preceding political uncertainty have hurt + economic activity, external liquidity, and public finances. We forecast that economic activity will start to rebound in 2016, however, + assuming a smooth political transition. We are therefore affirming our 'B-' long-term and 'B' short-term foreign and + local currency sovereign credit ratings on Burkina Faso. The stable outlook indicates that upside and downside risks to the rating are + balanced, depending on political developments, which we believe will become clear within the next six months. RATING ACTION On Dec. 4, 2015, Standard & Poor's Ratings Services affirmed its 'B-' long-term and 'B' short-term foreign and local sovereign credit ratings on Burkina Faso. The outlook is stable. RATIONALE The ratings on Burkina Faso are constrained by the country's...

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