Financial services
Fitch, a leading credit rating agency, announced a significant downgrade of France's long-term sovereign credit rating from AA- to A+ on Friday, citing a range of economic and political concerns. The move reflects growing concerns over France's high and rising government debt ratio, as well as
Financial services
African Export-Import Bank (Afreximbank) has had its AAA issuer credit rating affirmed by China Chengxin International Credit Rating Co., Ltd (CCXI) with a stable outlook. This reflects CCXI's evaluation of Afreximbank's strong strategic positioning, sound risk management, flexibility in business development, and very high profitability. The
Financial services
Standard & Poor's (S&P) has upgraded Portugal's sovereign credit rating to A+ with a stable outlook, citing the country's ability to implement policies in a relatively smooth manner and maintain fiscal discipline, despite a fragmented parliament. This decision follows the agency'
Financial services
Pakistan's Finance Ministry reported a positive start to the current fiscal year, with a narrower current account deficit and stable exchange rate in July. This stability has been accompanied by significant growth in tax collection by the Federal Board of Revenue (FBR), a sustained improvement in macroeconomic indicators
Financial services
Kenya has received a significant economic boost after global ratings agency S and P upgraded its long-term sovereign credit rating from 'B-' to 'B'. The improved rating is a result of Kenya's improved foreign exchange reserves, stronger diaspora remittances, and robust export earnings that
Banks (Finance)
Moody's Ratings has upgraded Asia Alliance Bank's (AAB) long-term local and foreign currency bank deposit ratings to B1 from B2, citing improvements in asset quality, profitability, and capital adequacy over the past year. The bank's Baseline Credit Assessment (BCA) and Adjusted BCA were also
Economic growth
The country's solid economic foundation, characterized by a growth rate of 5.7 percent in 2024 and a six-year-low inflation rate of 0.9 percent in July 2025, has led to the affirmation of its 'A-' investment grade credit rating by Rating and Investment Information Inc.
Economic growth
Kenyan President William Ruto has reaffirmed his criticism of international financial institutions, stating that they hinder Africa's economic growth through unfair credit ratings. In his address at the 9th Tokyo International Conference on African Development (TICAD9), the President emphasized the need for a more inclusive and supportive global
Banks (Finance)
Moody's Investors Service has announced the affirmation of Woori Bank's A1 foreign currency bank deposits and senior unsecured debt ratings, with the stable outlooks maintained on the ratings. This decision reflects the bank's stable credit profile, supported by its good capital buffers, sound funding,
Banks (Finance)
Moody's Investors Service has taken a bold step in upgrading the local and foreign-currency long-term deposit ratings of five Pakistani banks: Allied Bank Limited (ABL), Habib Bank Ltd. (HBL), MCB Bank Limited (MCB), National Bank of Pakistan (NBP), and United Bank Ltd. (UBL). The ratings were upgraded to
Banks (Finance)
Moody's Ratings has upgraded the deposit ratings of five major Pakistani banks, reflecting improvements in the country's external position and operating environment. The upgrades are attributed to the country's enhanced government capacity to support banks, as well as the institutions' resilient financial performance.
Banks (Finance)
In Zimbabwe, millions of farmers, traders, and small-scale entrepreneurs in rural areas and small towns struggle to access affordable finance due to the 'thin-file' problem, where there is a lack of recorded data to assess their creditworthiness. However, despite the lack of formal credit records, the rural economy
