Business News of Sunday, 1 February 2026Source: www.ghanaweb.comGlobal ratings agency Fitch Ratings has downgraded the African Export-Import Bank (Afreximbank) to non-investment grade, placing the Cairo-based multilateral lender in junk status and withdrawing all future ratings and analytical coverage. Fitch cut Afreximbank’s long-term Issuer Default Rating (IDR) to ‘BB+’ from ‘BBB-’, with a stable outlook, pushing the bank below investment-grade territory. The agency cited several factors behind the downgrade, notably Afreximbank’s elevated credit risk exposure and weakening policy importance after its inclusion in Ghana’s sovereign debt restructuring. “We view this as evidence that Afreximbank did not benefit from its preferred creditor status,” Fitch wrote. With Fitch’s withdrawal, Moody’s remains the only major global ratings agency continuing to assign a credit rating to Afreximbank.

Source: GhanaWeb February 01, 2026 15:05 UTC