Agusto & Co. assigns “Aaa(NGN)”, “Aa(Foreign Currency)“ and S2(Short term FCY) ratings to Africa Finance Corporation
The rating expires on 30 June 2020.
The rating of Africa Finance Corporation (“AFC” or the “Corporation”) is underpinned by the role of the Corporation in supporting Africa’s infrastructure development. As at FYE 2018, AFC’s footprint is visible in the infrastructure landscape of 28 African countries, including 10 non-member countries. The rating also reflects the Corporation’s good asset quality, strong capitalisation, good profitability, good liquidity, low leverage and the strength of its risk management framework. The fragile state of the macroeconomic environment in African countries remains a threat to the rating.
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