The African Export-Import Bank (AfreximBank) has announced the official termination of its credit rating relationship with Fitch Ratings.
This was made known in a statement issued by the bank on Friday.
The posts read in part, “This decision follows a review of the relationship and its firm belief that the credit rating exercise no longer reflects a good understanding of the bank’s establishment agreement, its mission, and its mandate.
“Afreximbank’s business profile remains robust, underpinned by strong shareholder relationships and the legal protections embedded in its Establishment Agreement, signed and ratified by its member states.”
The bank did not disclose a replacement to Fitch Ratings or its plans to engage another credit rating agency in the future.
Afreximbank reiterated its dedication to promoting trade and economic integration across Africa.
