Moody’s assigns A2 rating to EAIF, cites strong outlook

By Remie Otieno

Credit rating agency Moody’s, has assigned first-time A2 rating to debt financier – Emerging Africa Infrastructure Fund (EAIF), citing a stable outlook and strong shareholder base.

Such a ranking is the sixth highest rating in the agency’s long-term corporate obligation rating and is subject to low credit risk, making the firm an attractive vehicle for investors keen to tap to continental infrastructure projects.

“The A2 rating evidences our ability to take on and proactively manage risk to deliver returns and generate sustainable development impact. We are committed to building our diversified portfolio as we ramp up vital funding for strategic projects that boost Africa’s resilience,” noted Martijn Proos, the director at Ninety One, the fund manager of the Emerging Africa Infrastructure Fund.

EAIF which is part of the Private Infrastructure Development Group (PIDG) mobilizes public and private debt capital to deliver infrastructure projects particularly in the renewable energy sector in sub-Saharan Africa.

The firm has a loan portfolio in excess of US$ 1.15Billion – the improved rating is expected to extend confidence to African countries keen to pump more clean electricity to their national grid.