Afreximbank secures A- Rating from Japanese credit rating, after suffering downgrades

Nwali Chidozie

Japan Credit Rating Agency, Ltd. (JCR) has affirmed the African Export-Import Bank’s (Afreximbank) A- issuer credit rating with a stable outlook, a decision that underscores the Bank’s robust financial health and its critical role in fostering economic development across Africa and the Caribbean, following some downgrades the bank suffered in the previous months.

According to a statement from the bank on Wednesday, stating  the affirmation as a  significant vote of confidence that is expected to further bolster investor trust and support the Bank’s continued expansion in international capital markets.

In June and July, the bank suffered some downgrades. Fitch credit rating agency downgraded the bank from BBB to BBB- with a negative outlook. Similarly, in July 2025, Moody credit ratings downgraded Afreximbank from Baa1 to Baa2 with a stable outlook.

The ratings from Moody’s and Fitch reflect some concerns related to sovereign exposures and assets performance.

JCR’s assessment highlighted several key pillars of Afreximbank’s strength, including its “strong strategic positioning, robust risk management framework, consistent profitability, prudent liquidity policies and resilient capital base.”

The rating agency also specifically acknowledged the Bank’s crucial role in supporting trade finance and economic progress in both Africa and the Caribbean, recognizing its systemic importance in a challenging global environment.

According to JCR, the A- rating is projected to remain stable over the next 12 to 18 months, despite external macroeconomic headwinds and potential pressures within its operating environment.

Afreximbank’s Senior Executive Vice President, stated that the affirmation validates the Bank’s credibility in global financial markets. “JCR’s rating underscores our strong fundamentals and prudent risk management practices.” He said.

The JCR affirmation is particularly timely, building on the momentum of Afreximbank’s successful inaugural Samurai bond issuance in Japan in 2024. The transaction raised JPY 81.3 billion (US$530 million) and attracted strong participation from a diverse pool of Japanese institutional investors.

The success of the issuance, which was rated A- by JCR, demonstrated Afreximbank’s growing appeal and capacity to secure innovative funding solutions beyond traditional geographies, further solidifying its market presence.