Fitch Downgrades Afreximbank to 'BB+' Amid Ghana Debt Concerns

Fitch, a renowned rating agency, downgraded the African Export-Import Bank (Afreximbank) to 'BB+' with a stable outlook. The downgrade was influenced by concerns over Ghana's debt restructuring, leading to a revision of Afreximbank's business profile from high risk to medium risk.

The agreement between Afreximbank and Ghana in December 2025 regarding a $750 million sovereign loan played a significant role in this decision. Fitch highlighted that Afreximbank did not benefit from preferential creditor status in the context of Ghana's debt restructuring, impacting its overall risk assessment.

The rating agency also withdrew Afreximbank's ratings post the downgrade, citing commercial reasons. Afreximbank's solvency assessment was maintained at 'BBB,' reflecting strong capitalization and moderate solvency risks.

The bank's liquidity assessment was deemed strong, supported by high-quality treasury assets and diverse funding sources.