Senegal: Senegal’s Credit Rating – Moody’s Latest Downgrade Was Questionable – Here’s Why

[The Conversation Africa] The decision by the rating agency Moody's to downgrade Senegal's sovereign credit rating in late October 2025 triggered an immediate week-long sell-off in Senegal's Eurobonds. This was the third downgrade in one year. It left the country's 16-year bond trading at a 40% discount to its face value. Meaning, for every one dollar denominated bond, it was being sold for 60c on the market.

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