The African Export-Import Bank (Afreximbank) has announced the termination of its credit rating relationship with Fitch Ratings, marking a strategic shift in how the pan-African multilateral lender engages with external rating agencies.
The decision follows an internal review of the relationship, after which the Bank concluded that the credit rating exercise no longer reflects a sufficient understanding of Afreximbank’s Establishment Agreement, nor its mission and mandate as a development-focused financial institution.
Despite ending the relationship with Fitch, Afreximbank said its business profile remains strong.
The Bank is supported by solid shareholder relationships and reinforced by the legal protections embedded in its Establishment Agreement, which has been signed and ratified by its member states.
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