Agusto & Co. affirms the “Aaa” (NGA), “Aa” (foreign currency) and S2 (short-term foreign currency) ratings assigned to Africa Finance Corporation, with a stable outlook
The rating expires on 30 June 2023.
The ratings assigned to Africa Finance Corporation (“AFC” or the “Corporation”) reflect its developmental role in bridging Africa’s infrastructural gap and the preferred creditor status held in 37 African countries. The ratings also recognise AFC’s resilience in the face of the harsh operating climate prevailing in most African countries. This is reflected in AFC’s good asset quality upheld by its conservative risk management framework, strong capitalisation, good profitability and strong liquidity profile.