Fitch Ratings upgrades Afreximbank to ‘BBB’

Fitch Ratings has upgraded African Export-Import Bank (Afreximbank) Long-Term Issuer Default Rating (IDR) to ‘BBB’ from ‘BBB-‘, noting that the outlook is “Stable”. Fitch Ratings highlighted that Afreximbank has strengthened its institutional role and raised its profile as the main multilateral development bank focused on supporting the public and private sectors in Africa. The Credit Rating Agency…