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Fitch downgrades Afreximbank to junk and withdraws rating - REUTERS
LONDON, Jan 28 (Reuters) – Ratings agency Fitch downgraded Afreximbank to junk and withdrew future ratings – a final move in a relationship with the African lender that had become combative.
The ratings change to BB+ from BBB- comes after a dispute between the bank and Fitch over the agency’s assessments of the lender, in which Fitch flagged concerns over high credit risks, weak risk-management policies, and whether or not it would have to take a hit on loans to member nations.
“The bank’s inclusion in Ghana’s restructuring underlines its weakening policy importance, in our view,” Fitch wrote.




