NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

The downgrade of the African Export-Import Bank (Afreximbank) by Fitch Ratings to a notch above junk status last week has sparked massive conversation. The New York-based agency cut Afreximbank down to a BBB- rating with a negative outlook from a BBB stable outlook, rating noting higher risks from its sovereign loans being restructured.

Photo courtesy of Lorenzo.