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Moody’s Affirms Afreximbank’s Rating

Moody’s Affirms Afreximbank’s Rating

Business
African Export-Import Bank (Afreximbank) has announced that the global credit ratings agency Moody’s, recently affirmed its long-term credit rating at Baa1, with a stable outlook. The agency determines its rating for supra-nationals based on three criteria: capital adequacy, liquidity, and funding and strength of member support. Moody’s noted that Afreximbank’s credit profile was, “supported by its collateralised trade finance business model, with a short average asset maturity and a relatively well-diversified loan portfolio that allows it to respond flexibly to the coronavirus crisis.” The report added that, “the stable outlook is supported by the Bank’s successful equity-raising performance and its track record of adapting its strategy to challenges in the operating environment of...

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