Financial transparency

A transparent and controlled financial position

SAGESS’ financial strategy is built on two principles: balance and transparency. It is validated every year by the Board of Directors with a key objective of meeting financial needs in a proactive and secure way. This strategy is characterized by safe financial mechanisms based on diversification of resources. As agreed between SAGESS and the CPSSP, SAGESS recovers all its costs. It is protected from making a loss while disposing of its oil product reserves. Dedicated tax provisions are established to secure the system. Financing needs are almost completely covered by loans on the financial market.

Recognized financial stability

Since 2001, Standard & Poor’s has recognized SAGESS’ financial stability with AA long-term rating (stable outlook) and A-1+ short-term rating. These long term and short term ratings are annually confirmed by Standard and Poor's, based on an in depth review of SAGESS situation. For more than ten years, SAGESS has maintained a regular relationship with Standard & Poor's which projects stable future prospects and bases its rating on SAGESS’ guaranteed financial liquidity which is built by staggering the maturity of debts and permanently maintaining a 100% coverage of SAGESS use of its commercial paper program by an undrawn revolving credit facility.This vision also rests on a system to recuperate all costs through the CPSSP, thus guaranteeing a balanced result.