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The African Export-Import Bank (Afreximbank) has announced that it has formally ended its credit rating relationship with Fitch Ratings.
In a statement issued on Friday, the Bank said it took the decision after a comprehensive review of the partnership, concluding that Fitch’s rating process no longer reflects a proper understanding of Afreximbank’s Establishment Agreement, mission, and mandate.
Afreximbank explained that the credit assessment no longer captures the unique legal and institutional framework under which the bank operates, prompting it to terminate the relationship.
Despite the move, the Bank stressed that its financial position and business fundamentals remain strong. It pointed to solid shareholder support and the legal safeguards contained in its Establishment Agreement, which member states have signed and ratified.
The Bank also reaffirmed its commitment to promoting trade and economic integration across Africa, adding that its strong institutional profile continues to sustain confidence among shareholders and other stakeholders.
