The Bloomfield Investment Corporation rating agency has assigned Coris Holding an A + long-term and A1 short-term rating. In the long term, the credit quality is high, notes the agency based in Abidjan. “The protective factors are good. However, the risk factors are more variable and more important in times of economic pressure ”.
In the short term, the certainty of timely repayment is very high. Liquidity factors are excellent and supported by good element protection factors. The risk factors are minor. Among the elements strengthening the rating, Bloomfield notes a regional economy that is growing and resilient in the face of health and security crises;
▪ A good ability to achieve development goals;
▪ A sustained dynamic of banking activity, confirming the improvement of the group’s positioning in the area;
▪ Continuous strengthening of the governance and risk management framework;
▪ A sustainable level of debt;
▪ A solid financial profile, supported by the good performance of the subsidiaries;
▪ Increased financial profitability, propelled by a strong leverage effect.
Among the factors of fragility, Bloomfield mentions little room for maneuver for new debt;
▪ Financial performance mainly backed by the first subsidiary, in Burkina Faso;
▪ Control of the cost of risk to be improved
▪ A security risk to be monitored in the intervention area.
CORIS Holding SA, holding of the CORIS Group is a public limited company with a Board of Directors, created on June 4, 2013 for the supervision and management of the CORIS Group located in seven (7) countries of the UEMOA zone (Benin, Burkina Faso, Côte d’Ivoire, Mali, Niger, Senegal and Togo) and Guinea. Its head office is established in Ouagadougou Ouaga 2000 – CORIS building.
The share capital of CORIS Holding SA is 25 billion CFA francs as of December 31, 2020, 98% owned by Mr. Idrissa NASSA (photo), founder of the CORIS Group.
