The African Export-Import Bank Afreximbank has announced that it has formally ended its credit rating relationship with Fitch Ratings.
In a statement issued on Friday, the Bank said it took the decision after a comprehensive review of the partnership, concluding that Fitch's rating process no longer reflects a proper understanding of Afreximbank's Establishment Agreement, mission, and mandate.
Afreximbank explained that the credit assessment no longer captures the unique legal and institutional framework under which the bank operates, prompting it to terminate the relationship.
