Fitch Ratings has downgraded the African Export–Import Bank (Afreximbank) to junk status, citing Ghana’s debt‑restructuring process and losses linked to a $750 million loan as key factors that, in its view, have increased the bank’s risk profile. 

The downgrade was followed by Fitch’s decision to withdraw future ratings for Afreximbank altogether, bringing what the agency described as a strained relationship to a definitive end.

In response, the African Credit Rating Association (ACRA) has publicly supported Afreximbank’s decision to terminate its engagement with Fitch. Speaking to Channel Africa on Monday, ACRA President Dr Sifiso Falala said the sequence of events leading to the downgrade raised concerns.

Fitch Ratings has downgraded the African Export&ndash;Import Bank (Afreximbank) to junk status, citing Ghana&rsquo;s debt‑restructuring process and losses linked to a $750 million loan as key factors that, in its view, have increased the bank&rsquo;s risk profile.&nbsp;
The downgrade was followed by Fitch&rsquo;s decision to withdraw future ratings for Afreximbank altogether, bringing what the agency described as a strained relationship to a definitive end.
In response, the African Credit Rating Association (ACRA) has publicly supported Afreximbank&rsquo;s decision to terminate its engagement with Fitch. Speaking to Channel Africa on Monday, ACRA President Dr Sifiso Falala said the sequence of events leading to the downgrade raised concerns.

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In-depth financial issues, profiling of African businesses doing well internationally, stocks &amp; market updates.