S&P Global Assigns 'A/A-1' Ratings to Africa Finance Corporation, Enhancing Fundraising Potential
S&P Global has assigned Africa Finance Corporation (AFC) an 'A' long-term and 'A-1' short-term issuer credit rating, reflecting its strong credit profile and leadership in African infrastructure solutions. The Positive Outlook indicates potential growth in its shareholder base and capital position, which AFC's CEO, Samaila Zubairu, believes will lower borrowing costs and improve access to funding for infrastructure projects. This rating comes at a time when African lenders are struggling to secure concessional financing due to rising global interest rates.
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S&P Global has assigned Africa Finance Corporation (AFC) an 'A' long-term and 'A-1' short-term issuer credit rating with a Positive Outlook. This rating reflects AFC's strong credit profile and its leadership in providing infrastructure solutions across Africa.
The rating agency recognized AFC's ability to execute complex transactions and its ongoing investments in key sectors, including the Kamoa-Kakula copper complex in the Democratic Republic of Congo. The Positive Outlook suggests expectations for expanded shareholder base and strengthened capital position.
AFC's CEO, Samaila Zubairu, noted that this rating is expected to lower borrowing costs and enhance access to cheaper funding for infrastructure projects across the continent. AFC's significant shareholders include the Central Bank of Nigeria and various financial institutions. The rating comes as African lenders face challenges in securing concessional financing amid rising global interest rates.
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