CCXI affirms Afreximbank’s AAA rating with stable outlook
China Chengxin International Credit Rating Co., Ltd (CCXI) has affirmed the AAA issuer credit rating of the African Export-Import Bank (Afreximbank) with a stable outlook, underscoring the Bank’s financial strength and resilience.
According to CCXI, the top rating reflects Afreximbank’s strategic positioning, sound risk management, strong profitability, prudent liquidity management, and very high coverage ratio of current assets on short-term debts. The agency added that Afreximbank’s rating is expected to remain stable over the next 12 to 18 months despite macroeconomic challenges.
Afreximbank’s resilience amid challenges
Reacting to the announcement, Denys Denya, Senior Executive Vice President of Afreximbank, said the affirmation highlights the Bank’s systemic importance to Africa and its prudent risk practices.
“This rating is a remarkable achievement amid a challenging operating environment, and it demonstrates Afreximbank’s systemic relevance to Africa and the Caribbean, our key focus regions,” Denya noted.
He emphasized that the rating would support funding diversification opportunities, particularly in China’s Panda bond market, strengthening trade facilitation between Africa and China.
Boost for Panda bond presence
The CCXI rating comes after Afreximbank successfully issued its inaugural Panda bond in April 2025, raising RMB 2.2 billion (US$303 million). The issue was oversubscribed and attracted high-quality investors, reflecting strong confidence in the Bank’s creditworthiness.
The Bank highlighted that the rating further cements its preferred creditor status among 53 African member states and 13 Caribbean members while enhancing global funding options.
The affirmation is expected to galvanize support for Afreximbank’s funding plans in China, bolster its market presence, and set a benchmark for other African borrowers seeking access to the Renminbi bond market.
