Madagascar Risk Assessment
Credit Rating
| Coface Business Climate |
Coface Country Rating |
Standard & Poor’s | Moody’s | Fitch |
| C | C | B/Stable/B | n.a. | n.a. |
| The business environment is difficult. Corporate financial information is often unavailable and when available often unreliable. Debt collection is unpredictable. The institutional framework has many troublesome weaknesses. Intercompany transactions run major risks. | A very uncertain political and economic outlook and a business environment with many troublesome weaknesses can have a significant impact on corporate payment behaviour. Corporate default probability is high. See: Coface launches a new "business climate" rating | The business environment is difficult. Corporate financial information is often unavailable and when available often unreliable. Debt collection is unpredictable. The institutional framework has many troublesome weaknesses. Intercompany transactions run major risks. | Madagascar is one of twelve sub-Saharan African nations that are assigned a country rating byStandard and Poor’s. It has not received a rating from Moody’s and Fitch. Standard and Poor’shas given it a rating of B/Stable/B, which is the same rating as Belize, Cambodia, Fiji, Jamaica,Kenya, Mali and Paraguay.An investment grade rating by Standard and Poor’s is BBB- or above. |