Home » Afreximbank dismisses Fitch ratings downgrade

Afreximbank dismisses Fitch ratings downgrade

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THE African Export-Import Bank (Afreximbank) says the decision by credit rating agency Fitch to downgrade and give it a negative outlook was based on a wrong interpretation of its founding treaty signed by its member states.The Cairo-based multinational trade financier argues that Fitch’s definition of non-performing loans (NPLs) differs from its approach.Fitch, in its latest…

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