Fitch Ratings revises African Risk Capacity's rating upwards

Fitch Ratings has upgraded African Risk Capacity's (ARC) financial strength rating from BBB+ to A-, and its long-term credit rating from BBB to BBB+. The outlook is stable.

Fitch's decision was motivated by ARC's significant progress in meeting its development objectives, the diversity of its parametric insurance products, the commitment and credit quality of its sponsors, its strong capitalization and solid leverage.

Established in 2012 by the African Union, ARC is a specialized agency dedicated to helping member States limit the effects of extreme weather events.