Fitch affirms Afreximbank

Fitch Ratings said it affirmed African Export-Import Bank's (Afreximbank) long-term issuer default rating at BBB- with a stable outlook.

Fitch also affirmed the bank's short-term issuer default rating at F3 and senior unsecured debt at BBB-.

“Afreximbank's ratings are driven by its intrinsic features, primarily sound levels of solvency and liquidity (both assessed at a-),” the agency said in a news release.

“The high-risk business environment in which the bank operates, translates into a three-notch negative adjustment to our assessment of the bank's solvency and liquidity, resulting in an intrinsic rating of bbb-.”

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