"SENELEC did not recall from the rating process". This is the reaction of Senegal's national electricity company after a statement from Bloomfield Investment's rating agency was released. SENELEC declares that it has chosen another agency after a call for the period 2018-2019.
The pan-African financial institution Bloomfield announced Tuesday, in a statement by which aDakar.com and Abidjan.Net have received a copy, the decision of Senegal's national electricity company (SENELEC) to leave the Bloomfield Investment Economic Assessment process. Following this information, SENELEC officially responded.
In a statement, the Senegalese company released the light of the process that led to its removal from Bloomfield Investment. "Senelec had submitted a voluntary economic assessment process that was still valid in 2017 and had therefore consulted the two credit rating agencies approved by CREPMF, namely WARA and Bloomfield Investment. Senegal procurement, Bloomfield's offer was selected," said SENELEC's Director General.
The National Electricity Company in Senegal finds that the consultation that led to keeping the Bloomfield Investment Financial Assessment Office in the period 2017-2018. And for the period 2018-2019 it is a competing offer that has been chosen.
"Since this consultation only applies for the period 2017-2018, Senelec has issued a tender procedure for 2018-2019 and the two credit rating agencies approved by CREMPF (Bloomfield and WARA) have submitted proposals for the period 2018 to 2019. At the end of the process and after analysis of the technical and financial proposals, the WARA offer was chosen, the WARA agreement has been signed and the mission is in progress, says SENELEC's press release.
The Managing Director, Mouhamadou Makhtar Cisse, also reiterated SENELEC's commitment to "fulfill all terms and conditions regarding the issue of bond issues on UMEOA's regional financial market."