New York, December 12, 2014 -- The African Export-Import Bank (Afreximbank)'s focus on trade finance and relatively healthy asset quality is reflected in its Baa2 rating with a negative outlook, says Moody's Investors Service in its annual Credit Analysis on the bank. The rating takes into account the continued deterioration in the bank's equity buffer over the past few years, although a $500 million share offering for existing shareholders promises to partially reverse the downward trend.
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