Moody's Investors Service ("Moody's") has affirmed the Government of Senegal's Ba3 long-term issuer ratings and changed the outlook to stable from negative. The rating on Senegal's foreign-currency senior unsecured debt has also been affirmed at Ba3. The short-term rating was affirmed at Not Prime (NP).

Fitch Ratings has affirmed Egypt's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'B+' with a Stable Outlook.

In Senegal, the port of Dakar raised $ 169 million (for $ 107 million sought) on the WAEMU financial market after only 12 days of subscription. A sign of investor confidence. The funds will be used, among other things, for the construction of the industrial port zone of the future port of Ndayane.

Senegal's overall economic backdrop is favourable for the continued development of the country's banking sector, Fitch Ratings says in a new report. However, credit growth - particularly retail lending - is limited and banks are likely to be exposed to high single-name borrower concentrations.