S&P Reaffirms ATI’s ‘A/Stable’ Rating
2012 Press Releases
19th October 2012
S&P Reaffirms ATI’s ‘A/Stable’ Rating - Maintaining its Status as the Highest Rated African Insurer
NAIROBI, 19 October, 2012 – International rating agency Standard & Poor’s (S&P) reaffirmed the African Trade Insurance Agency’s (ATI) (A/Stable) credit rating citing "very strong capitalization, strong financial flexibility and investments, and strong liquidity". The rating reinforces ATI’s status as Africa’s highest rated insurer and second highest rated financial institution.
It’s important to note that ATI’s renewed rating is significant for a unique reason, notes ATI’s Chief Executive Officer, George Otieno. ATI operates in a region where a majority of its member countries have ratings that are less than investment grade, "our rating provides a benefit to these countries, who can essentially offer the ATI rating in place of their own when they are trying to attract investors – this is essentially the function of an ATI-backed guarantee."