JP Morgan cuts view on Afreximbank on junk rating downgrade risk
ReutersJan 19, 2026 4:32 PM
LONDON, Jan 19 (Reuters) - U.S. investment bank JP Morgan cut its view on African Export & Import Bank (Afrexim) bonds on Monday, over concerns the lender's credit rating could be cut to junk following a report it would take a loss on Ghanaian loans after the country defaulted.
"We are mainly cautious that Afrexim’s resolution with Ghana, in an adverse scenario, may lead Fitch to downgrade the bank to high yield (junk)," JP Morgan's analysts said in a research note in which it cut its view to 'neutral'.
"This could in turn lead to some forced selling of the bank’s bonds," it added.
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