ALCB Fund receives Baa2 rating from Moody’s
FSD Africa congratulates the African Local Currency Bond Fund on achieving a Baa2 rating from Moody’s, placing the Fund among the strongest credits in Africa. In awarding their rating, Moody’s highlights as contributory factors the Fund’s ample liquidity and the technical support it receives from its financially strong shareholders – KfW and FSD Africa.
By improving access to long-term funding in local currency, the African Local Currency Bond strengthens the capacity of local markets to invest in sectors where the beneficiaries are low-income households and SMEs.
FSD Africa salutes the African Local Currency Bond Fund for achieving this milestone amid challenging market conditions, as noted by Moody’s, and while pursuing a growth strategy that embraces innovation in new products and new geographies.