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AfreximBank cuts ties with Fitch in rating cut dispute

BY Reuters | CORPORATE | 01/23/26 05:54 AM EST

NAIROBI, Jan 23 (Reuters) - Multilateral lender AfreximBank terminated its relationship ?with credit rating ?firm Fitch on Friday, ?due to ?what ?it said was ?a "firm ?belief" that the agency's rating exercise ?no ?longer ?reflected the bank's establishment agreement.

Fitch cut Afreximbank's ?credit rating to one notch above 'junk' Status last ?year ?and currently has it ?on a 'negative outlook', rating agency terminology for another downgrade warning.

(Reporting by Duncan ?Miriri and COlleen Goko-Petzer, writing by Marc ?Jones in London.)

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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