Moody’s Ratings affirmed Africa Finance Corporation’s A3 long-term issuer and senior unsecured ratings, citing stronger capital, solid liquidity and stable asset quality as the infrastructure lender expands its balance sheet. The outlook remains stable. Moody’s also affirmed AFC’s Baa3 junior subordinated rating and P-2 short-term issuer rating. The rating agency said AFC’s capital position has…
Cairo — African Export-Import Bank (Afreximbank) welcomes GCR Ratings’ (“GCR”) latest Rating action on the Bank, affirming the Bank’s international scale long and short-term issuer ratings of A and A2 respectively. The outlook was revised to “Stable” from “Rating Watch Evolving”. GCR has also affirmed the international scale long term programme rating on the USD…
Addis Ababa — No matter how the international landscape might change, China will always stand firmly with Africa, Ambassador Jiang Feng, Head of the Chinese Mission to the African Union (AU), reaffirmed. In an exclusive interview with ENA, Ambassador Jiang Feng, Head of the Chinese Mission to the African Union (AU), reaffirmed China’s steadfast commitment…
Government has welcomed Fitch’s decision to affirm South Africa’s long-term foreign and local currency debt ratings at “BB-” and maintain the stable outlook. According to Fitch, South Africa’s credit rating is constrained by several factors, including low real gross domestic product (GDP) growth, high poverty and inequality levels, a high and rising government debt-to-GDP ratio,…
The consultative “2+2” mechanism meeting of the foreign and irrigation ministers of Egypt and Sudan reaffirmed that the water security of both countries is indivisible, reiterating their outright rejection of any unilateral measures in the Eastern Nile Basin that could undermine their water interests. In a joint statement following the meeting, held on Wednesday 3,September…
