ratings rift
A few months after cutting ties with Fitch Ratings, which had downgraded it to speculative grade, Afreximbank has secured a far more favourable rating from S&P Global Ratings. The move has reopened the debate over how western agencies assess African risk.
By
Alix Lavoué
In January, the pan-African bank made its break with Fitch official after the agency cut its rating to speculative grade. Now S&P has given the bank a BBB+ rating with a stable outlook – three notches above Fitch’s last rating.
