The CRRH-UEMOA maintained its AA rating (Bloomfield Agency) – Financial Afrik

Christian Agossa, Director General of the CHRC-UEMOA.

the rating Committee of Bloomfield Agency decided to maintain the long-term rating of Mortgage Refinancing Regional laCaisse of the Economic Monetary Union and West African (CRRH-UEMOA) to AA with Stable outlook and enhance the short-term rating of A1 A1 + , along with a Stable outlook . These ratings reflect the credit quality of the CHRC-UEMOA long and short term, the report of the rating agency.

The high level of cash the CRRH-UEMOA, indicating a strong capacity CRRH-UEMOA to be able to meet its short-term commitments, is an enhancement factor of short-term notes. The Committee takes note of the positive evolution of the level of activity between 2014 and 2015, as well as advances in mobilizing concessional resources.

The year 2015 is marked by a lower cost of refinancing resources, which should improve the housing finance level by the beneficiary banks. It notes, however, the disparity in the legal and regulatory framework of the WAEMU countries regarding the mortgage collateral and the issuance of securities fonciers.La constitution by the beneficiary banks, collateral portfolios required in the rules of procedures of CRRH the UEMOA, though improving, is still constrained by the difficulties of the legal framework. The committee will pay particular attention to developments in the legal and regulatory framework as well as ongoing actions in the UEMOA bodies.

The Caisse Régionale Mortgage Refinancing of Economic and Monetary Union West Africa (UEMOA CHRC) is a financial institution incorporated as a public limited company with Board of Directors. Capital of 5832 million CFA francs on 31 December 2015 is distributed among fifty-three (53) shareholders, three (3) financial institutions and fifty (50) commercial banks. Its mission is to refinance, for the exclusive benefit of its shareholders banks, housing loans granted by them to their clients. To do this, it mobilizes, on the regional financial market of the WAEMU countries, the resources by issuing bonds, bonds, negotiable debt securities or securities of any kind. It may also seek resources from donors fonds.Son capital was increased to 7 125 million CFA francs to 30 June 2016

.