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[BUSINESS] · Senegal, France · 62 sources

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Senegal and France face credit rating and debt challenges

Senegal is intensifying negotiations with international creditors to restructure its public debt as rising servicing costs threaten economic growth. Moody’s has downgraded Senegal’s long-term foreign-currency senior unsecured debt from Caa2 to Ca, citing anticipated losses for private foreign creditors between 35% and 65%. The Senegalese government intends to exclude debt denominated in CFA francs from this restructuring plan. Additionally, Senegal is considering a USD 2.2 billion financing programme with the IMF for the 2026–2029 period.

In France, Fitch Ratings has maintained the country’s credit rating at A+ but downgraded its outlook from stable to negative. The agency cited weaker growth, renewed fiscal deterioration, and higher yields as primary concerns. Fitch projects France’s debt-to-GDP ratio will rise from approximately 115.7% in 2025 to 124% by 2028. The decision follows reports of economic contraction in the third quarter and ongoing political fragmentation, which complicate efforts to implement sustained fiscal consolidation.

Entities

Fitch Ratings · France · G20 · Houlihan Lokey · IMF · International Monetary Fund · Moody’s · Pastef · Senegal · West African Economic and Monetary Union

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