Moody’s assigns (P)A3 to Africa Finance Corp’s Sukuk certificates

London

Moody’s Investors Service has assigned a provisional (P)A3 senior unsecured rating to the AFC Sukuk Company, a special purpose vehicle (SPV) established in the Cayman Islands by the Africa Finance Corporation (AFC).
“The AFC’s milestone sukuk offering reflects the continued interest in Islamic capital markets as a source of funding in Sub-Saharan Africa,” commented Zuzana Brixiova, Vice President and Senior Analyst at Moody’s Investors Service.
“The Sukuk issuance diversifies AFC’s investor base while proceeds will help the Corporation to respond even more effectively to a growing demand for infrastructure financing from its member countries.”—Agencies

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