Fitch rates African Export-Import notes BBB-

Fitch Ratings said it assigned African Export-Import Bank's $1.5 billion euro medium-term note program a BBB- rating

The program's rating is in line with the bank's long-term issuer default rating of BBB-, which reflects the bank's preferred creditor status in member countries, its adequate capitalization, the nature of its operations and its sound asset quality as well as its high-risk environment and the generally weak credit quality of its shareholders, the agency said.

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