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African Union-backed credit rating agency to launch in September as scrutiny of global firms intensifies

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  • AfCRA aims to boost local currency debt markets and improve transparency
  • Project responds to mounting dissatisfaction with Moody’s, Fitch, and S&P

Abuja, Nigeria – A new credit rating agency backed by the African Union is set to begin operations in September, offering the continent an alternative to the long-dominant global firms Moody’s, Fitch, and S&P.

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