China Chengxin International Credit Rating Co., Ltd (CCXI) has affirmed the African Export-Import Bank’s (Afreximbank) AAA issuer credit rating with a stable outlook, reflecting the Bank’s strong strategic position and financial resilience. Download the report.
CCXI said the rating is supported by Afreximbank’s sound risk management, business flexibility, strong profitability, prudent liquidity management, and high coverage of short-term debt obligations. The agency expects the rating to remain stable over the next 12 to 18 months, despite downside risks from global macroeconomic pressures.
Denys Denya, Afreximbank’s Senior Executive Vice President, said the affirmation reinforces the Bank’s systemic relevance to Africa and the Caribbean and opens up new funding diversification opportunities, particularly in China’s Panda bond market. He noted that the recognition reflects Afreximbank’s consistent support to its member states and trade facilitation role, even in times of economic stress.
The announcement follows Afreximbank’s successful debut Panda bond issuance in April, which raised RMB 2.2 billion (US $303 million) and was oversubscribed, signalling strong investor confidence. Analysts say that maintaining the AAA rating strengthens the Bank’s ability to channel affordable financing into African economies, providing a benchmark for other African borrowers and deepening Africa-China financial cooperation.
