{"id":12327,"date":"2018-03-28T09:31:34","date_gmt":"2018-03-28T06:31:34","guid":{"rendered":"https:\/\/www.atidi.africa\/sp-revises-atis-outlook-stable-affirms-rating\/"},"modified":"2018-03-28T09:31:34","modified_gmt":"2018-03-28T06:31:34","slug":"sp-revises-atis-outlook-stable-affirms-rating","status":"publish","type":"post","link":"https:\/\/www.atidi.africa\/ja\/sp-revises-atis-outlook-stable-affirms-rating\/","title":{"rendered":"S&#038;P Revises ATI\u2019s Outlook to Stable and Affirms \u2018A\u2019 Rating"},"content":{"rendered":"<p><strong>NAIROBI, 28 March<\/strong>,<strong> 2018<\/strong> \u2013 Following a review meeting, S&amp;P Global Ratings (S&amp;P) revised the African Trade Insurance Agency\u2019s (ATI) outlook to stable from negative and also affirmed the company\u2019s \u2018A\u2019 issuer credit rating. ATI has been rated \u2018A\u2019 by S&amp;P for the last 10 years.<\/p>\n<p>The removal of the negative outlook is based on significant progress made by ATI in curing member-state sovereign and sub-sovereign payment delays as well as ATI\u2019s expanded shareholder membership, which in the last 18 months included new shareholders Ethiopia, Zimbabwe, C\u00f4te d\u2019Ivoire, South Sudan, and UK Export Finance. ATI\u2019s capital and reserve base now stand at USD242 million and its net income was USD10 million in 2017.<\/p>\n<p>This new shareholder capital injection coupled with the resolution of most of ATI\u2019s sovereign and sub-sovereign payment delays \u201creinforces ATI\u2019s strong business profile and strong capital position,\u201d noted S&amp; P in its final report.<\/p>\n<p>The payment delays in a handful of countries had accrued since 2015. Of these, ATI has cured USD10 million (70%) of these payment delays over the last six months and no further arrears have occurred. S&amp;P also noted that his action provides \u201csupport of our assessment of ATI\u2019s preferred creditor status.\u201d<\/p>\n<p>George Otieno, ATI\u2019s Chief Executive Officer, added \u201cOur strategy in the last year has been to actively engage our member governments and to seek out strategic partnerships with international financial institutions and other multilaterals as a way to leverage our position within the markets we do business. Over the next few years, ATI targets an eventual upgrade to an A+ rating.\u201d<\/p>\n<p>In its report, S&amp;P concluded that they \u201ccould raise the ratings over the next two years if expanded shareholder membership, combined with substantial capital injections increases ATI\u2019s total adjusted capital sustainably beyond USD250 million.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NAIROBI, 28 March, 2018 \u2013 Foll [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[970],"tags":[],"class_list":["post-12327","post","type-post","status-publish","format-standard","hentry","category-970"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/posts\/12327","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/comments?post=12327"}],"version-history":[{"count":0,"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/posts\/12327\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/media?parent=12327"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/categories?post=12327"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/tags?post=12327"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}