The African Export-Import Bank (Afreximbank) has officially announced the termination of its credit rating relationship with Fitch Ratings.
The decision, disclosed in a statement on Friday,
Afreximbank says the move follows a comprehensive review of the partnership.
According to the Bank, the move reflects its firm belief that Fitch’s credit rating exercise no longer adequately captures the institution’s Establishment Agreement, mission, and mandate.
Despite the termination, Afreximbank emphasized that its business fundamentals remain solid.
The Bank highlighted its strong shareholder relationships and the legal protections embedded in its Establishment Agreement, which has been signed and ratified by member states.
The institution reaffirmed its commitment to delivering on its mandate of promoting trade and economic integration across Africa, noting that its robust profile continues to underpin confidence among stakeholders.
More to come…