UMOA-Titres (UT), the regional agency supporting the issuance and management of government securities for WAMU States, was established in 2013 with the vision of becoming a leading community institution providing the momentum required for the optimal functioning of the regional government securities market, in the service of the development of WAMU Member States.

This vision is reflected in the implementation of market structuring and development initiatives aimed at improving the availability of financial information in order to facilitate investors’ analysis and decision-making.

With a view to promoting the quality of information available on sovereign issuers, UMOA-Titres has supported WAMU Member States in the process of obtaining local-currency credit ratings on a regional scale, with the aim of raising the auction market to the highest standards.

Through this large-scale programme of local-currency credit ratings for WAMU Member States, launched on 24 January, UMOA-Titres seeks to reinforce the importance of the government securities market in financing States in the region, while also contributing to the development of this market in light of the challenges linked to transparency and the availability of information on issuers.

This local-currency credit rating programme is an essential investment decision-support tool for all participants in the regional market. The objective of equipping States with a rating on a regional scale is to highlight the specific characteristics of each issuer within the region, and in particular the advantages provided by the monetary union.

UMOA-Titres is therefore pleased to announce the availability of an e-book resource designed to provide readers with greater understanding of:

• the concept of credit ratings;
• the rating methodology and the rating process;
• the difference between international and regional rating agencies, and what their rating scales represent;
• the equivalence between the rating scales of regional and international agencies;
• credit ratings and their usefulness for States in the WAMU area.

The purpose of this e-book is to reduce information asymmetry, provide benchmarks for issuers, contribute to broadening the base of potential investors, and ultimately support the development of the regional financial market.

Through this resource made available by UMOA-Titres, you will be able to learn more about the regional local-currency credit rating programme, understand the specific characteristics of each issuer, and guide your investment strategies by forming a fair and objective view of the credit quality of WAMU States.

Download your free copy now by clicking here.