Home / Money / Moody’s affirms Afreximbank’s Baa1 Credit score Ranking

Moody’s affirms Afreximbank’s Baa1 Credit score Ranking

By Collins Nweze

 

African Export-Import Financial institution (Afreximbank) has introduced that the worldwide credit score scores company Moody’s, on July 14 has affirmed the financial institution’s long-term credit standing at Baa1, with a secure outlook.

The company determines its score for supranationals based mostly on three standards: capital adequacy, liquidity, and funding and power of member help.

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Moody’s notes that Afreximbank’s credit score profile is “supported by its collateralised commerce finance enterprise mannequin, with a brief common asset maturity and a comparatively well-diversified mortgage portfolio that enables it to reply flexibly to the coronavirus disaster.”

The report provides: “The secure outlook is supported by the financial institution’s profitable equity-raising efficiency and its monitor document of adapting its technique to challenges within the working atmosphere of member international locations with out undermining its asset-quality efficiency.”

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President of Afreximbank, Prof. Benedict Oramah, stated:

“Afreximbank is delighted by the end result of Moody’s credit score overview, contemplating the challenges posed by COVID-19.

In addition to having a profit-oriented enterprise mannequin, the financial institution has a developmental mandate and a duty to its members states to intervene in instances of emergency.

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We’ve acted decisively with the launch of the Pandemic Commerce Influence Mitigation Facility (PATIMFA). We sit up for persevering with supporting the financial institution’s member international locations in a prudent and impactful method.”

 

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