China Chengxin International Credit Rating Co., Ltd. (CCXI) confirmed the issuer credit rating” AAA” from the African Export-Import Bank (Afreximbank), with a stable perspective.

The high score reflects CCXI's assessment of assets of Afreximbank, including a high strategic positioning, a system of solid risk management, flexibility in business development, very strong profitability, prudent liquidity management and a ratio of very high coverage of current assets over short-term debts.

The credit rating agency further stated that it expects Afreximbank's ratings remain stable over the next 12 to 18 months, even after examining downward credit risks for macroeconomic and operational environments affecting the Bank.

Reacting to the announcement of the rating, Mr. Denys Denya, Senior Executive Vice President of Afreximbank, emphasized that the rating confirms the systemic relevance of the Bank for Africa and its management careful of risks. He also noted that this rating will improve the opportunities to diversify financing, especially on the market Chinese bond from Panda, supporting the development mandate of Afreximbank and trade facilitation between Africa and China.

Mr. Demya reiterated Afreximbank's commitment to supporting the trade finance in Africa and the Caribbean, despite the context difficult. He reaffirmed the Bank's unwavering commitment to its Member States and all its customers adding that the solid experience of the Bank contributed greatly to this great rating. He said that the Chinese rating confirmed the Bank's status as a preferred creditor with its 53 Member States in Africa and its 13 Member States in Caribbean.

Mr. Denya continued: “The CCXI's rating is a remarkable achievement in an environment difficult operational, and it demonstrates the systemic relevance of Afreximbank for Africa and the Caribbean, our priority regions.” Mr. Denya added that this rating illustrated the resilience of the Bank and would allow it to take advantage of the breadth and depth of the Panda Market while diversifying its funding sources globally