Moody's Investors Service has today affirmed Government of Senegal's B1 bond rating and maintained its stable outlook.

The key drivers of the affirmation are:

• The newly elected government's fiscal-consolidation efforts, despite strains on the budget and the upward debt trend;
• Sustained public investment in infrastructure, especially in transport and energy sectors, which should support Senegal's medium to long-term growth prospects;
• Efforts to implement structural reforms in order to promote good governance and transparency.

Concurrently, Moody's has lowered Senegal's local-currency country risk ceilings, the long-term foreign-currency bond ceiling and the long-term FC deposit ceiling to Baa1 from A2.