New downgrade: Moody's delivers a blow to Senegal

Moody's downgraded Senegal's sovereign rating from Caa1 to Caa2, maintaining a negative outlook. This downgrade is part of a continuous series of rating reductions that began in October 2024, totaling five downgrades in just over a year. The agency highlights an increased risk of default, persistent liquidity tensions, and a growing reliance on regional financial markets for debt refinancing. Access to international markets is deemed prohibitive, worsening the country's financial situation.