West Africa Rating Agency (WARA) announces that the financial rating mission of the Senegal Electricity Company (SENELEC) started on October 26th, at the end of the bidding process by which WARA was selected under for the year 2018-2019.
SENELEC had indeed called for tenders in accordance with the texts of the Central Directorate of Public Procurement (DCMP). The methodology that WARA will use for SENELEC’s rating is the rating methodology for public-sector industrial and commercial companies, published on July 15, 2012, and updated in August 2018.
The sources of information that will be used by WARA to conduct SENELEC’s rating will mainly be the private information obtained during discussions with SENELEC management, scheduled for 8-9 November 2018, in Dakar.
This information, coupled with publicly available sources, will in principle be sufficient for the conduct of the SENELEC rating. Finally, WARA states that SENELEC’s rating is solicited and participatory, that is to say that it follows a request for rating from SENELEC, and that the SENELEC management team is committed to take an active part in discussions with the WARA analytical teams.
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