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

• 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.