On Jan. 24, 2022, a section of the army carried out a coup and deposed Burkina Faso's president. It also dissolved the national assembly, suspended the constitution, and closed the country's borders. As a result of heightened political, economic, and financial risks, we have lowered our long- and short-term local and foreign currency ratings on Burkina Faso to 'CCC+/C' from 'B/B' and placed them on CreditWatch with developing implications. The CreditWatch placement reflects our view that Burkina Faso's creditworthiness could deteriorate over the next few months, given the ongoing political uncertainty, which could limit Burkina Faso's ability to service its commercial debt, either because of reduced access to financing, impaired administrative capacity, or the military junta's diversion of financial resources
