The CFAO Motors company Ivory Coast specialized in the car distribution obtained again the BBB + mark for its second rating. The news was published on Friday by the West Africa Rating Agency (WARA) based in Abidjan.
« On the WARA regional scale, the long-term rating of CFAO Motors Ivory Coast remains BBB + in the rank of investment and its short-term rating is w-3« , indicated the managing staff of WARA.
According to them, this mark reflects the expertise of the company on its domestic market as well as its healthy financial situation. They added that the perspective attached to these ratings remain stable.
Simultaneously, on its international level, WARA continues to assign to CFAO Motors Ivory Coast a notation of iB + / Stable / iw-5.
« The ratings of CFAO Motors Ivory Coast are still dependent on the consolidation of its part of the market and the Ivory Coast political stability found back« , raised the rating agency.
This structure justifies the ratings of CFAO and the perspective that is attached to them by the fact that « the company possesses a car brand portfolio of excellent quality, what represents its main competitive advantage on a very complex and competitive market« .
Moreover, the CFAO subsidiary in Ivory Coat shows an excellent operational and organizational control of the various activities connected to the sale, maintenance and repairing of cars.
In the opinion of Mrs Ndèye Thiaw, the main analyst, for WARA, the CFAO Motors Ivory Coast compensation rating benefits from no external supporting factor.
« However, the opinion of WARA regarding the solvency of CFAO Motors Ivory Coast, takes into account the strong operational support of the CFAO Group and its shareholding, particularly in the favorable adjustment made by WARA on its scorecards« , added Mrs Thiaw.
Original text by: Blaise AKAME