West Africa Rating Agency (WARA) today announced the publication of SICABLE’s first rating.
On its regional scale, the long-term rating that WARA assigns to SICABLE is “A-“, in investment grade, while its short-term rating is “w-3”. SICABLE, member of Prysmian Group, is the Ivorian leader of the electric cable. The perspective attached to these ratings is stable.
Simultaneously, on its international scale, WARA assigns to SICABLE the following notes: iB + / Stable / iw-5.
The rating first reflects the fact that SICABLE dominates the cable market in Côte d’Ivoire and sets out to conquer the neighboring markets.
SICABLE’s governance is sound and its management team robust, which allows the company to deploy a credible and relevant strategy of differentiation through quality.
SICABLE’s financial performance is very solid, as it boasts a stable level of profitability and abundant liquidity, while indebtedness is nil. The operational support of its majority shareholder Prysmian Group (which is the world leader in the sector) is comprehensive and permanent.
