S&P affirms ATI’s ‘A’ Rating and Stable Outlook

S&P Global Ratings (S&P) affirmed African Trade Insurance Agency's 'A' for Financial Strength and Counterparty Credit as well as its 'Stable' outlook. The rating is based on ATI's increased market penetration, expanding shareholder base, and an expectation of continued expansion and stabilization of its preferred creditor status.

In the report, S&P notes: "ATI's expansion and relevance in the region is bolstered by its strong shareholder support. It currently has 23 paid-up shareholders, including the African Development Bank, and its shareholder base has grown from seven initial member countries to 14 fully-fledged member countries. In the past two years alone, Ethiopia, Cote d'Ivoire, South Sudan and Zimbabwe have joined."

ATI's Gross exposures have increased by 23% in 2017 to US$2.4 billion compared to $872 million in 2013.