LONDON: The chief executive of Africa Finance Corp said its first credit rating from S&P Global would help it ‍achieve lower borrowing costs ‍and expand lending across the continent. S&P cited the lender's "strong asset quality" and "very strong liquidity coverage". It also assigned an A-1 short-term credit rating and a positive outlook, suggesting upgrades are possible. The infrastructure-focused lender already has an A3 rating from Moody's, an AAAspc rating from S&P Ratings (China) and ⁠an A+ rating from the Japan Credit ​Rating Agency. S&P said its positive outlook reflected ‍expectations the lender would expand its sovereign shareholders.