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APRM Slams Fitch's Downgrade of Afreximbank's Credit Rating

6/8/2025

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Summary

Story summary

The African Peer Review Mechanism (APRM) criticized Fitch Ratings for downgrading Afreximbank's credit rating from ‘BBB’ to ‘BBB-’ on June 4, 2025.
Fitch cited increased credit risk and weak risk management, estimating non-performing loans at 7.1%.
APRM disputes Fitch's classification of loans to Ghana, South Sudan, and Zambia as non-performing, claiming misinterpretation of treaty obligations.
APRM calls on Fitch to reassess its criteria and collaborate with African stakeholders for equitable credit evaluations.

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Story summary

The African Peer Review Mechanism (APRM) criticized Fitch Ratings for downgrading Afreximbank's credit rating from ‘BBB’ to ‘BBB-’ on June 4, 2025.
Fitch cited increased credit risk and weak risk management, estimating non-performing loans at 7.1%.
APRM disputes Fitch's classification of loans to Ghana, South Sudan, and Zambia as non-performing, claiming misinterpretation of treaty obligations.
APRM calls on Fitch to reassess its criteria and collaborate with African stakeholders for equitable credit evaluations.