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Fitch downgraded Afreximbank to 'BB+' due to Ghana debt restructuring, reduced policy role, and heightened risk from unstable African markets.
Fitch Ratings downgraded African Export-Import Bank (Afreximbank) to 'BB+' from 'BBB-' with a stable outlook, citing its inclusion in Ghana’s sovereign debt restructuring, which removed its preferential creditor status and reduced its policy importance.
The move reflects a shift to a 'high risk' business profile due to exposure to unstable African markets with weak credit quality and low income.
Fitch also cut its short-term rating to 'B' and withdrew all ratings, stating it will no longer provide coverage for commercial reasons.
Despite strong capital and liquidity, the downgrade underscores heightened credit risk amid governance concerns and regional instability.
Fitch rebajó la calificación de Afreximbank a "BB+" debido a la reestructuración de la deuda de Ghana, la reducción del papel de la política monetaria y el aumento del riesgo de los mercados africanos inestables.