| DLM Capital Group Limited | Bbb | 30-Jun-25 | Stable | South Africa |
| United Capital Plc | A- | 30-Jun-25 | Negative | South Africa |
| CardinalStone Financing SPV Plc's Series I Bond | A- | 31-Dec-25 | Stable | South Africa |
| Comercio Partners Limited | Bbb- | 30-Jun-25 | Stable | South Africa |
| Lotus Capital Limited | Bbb+ | 30-Jun-25 | Stable | South Africa |
| CardinalStone Partners Limited | A- | 30-Jun-25 | Stable | South Africa |
| Coronation Group Limited | A- | 30-Jun-25 | Stable | South Africa |
| Coronation Registrars Limited | A- | 30-Jun-25 | Stable | South Africa |
| Marathon Asset and Fund Management Limited | Bbb- | 30-Jun-25 | Stable | South Africa |
| Afrinvest (West Africa) Limited | Bbb | 30-Nov-25 | Stable | South Africa |
| Coronation Securities Limited | Bbb+ | 30-Jun-25 | Stable | South Africa |
| Adino Global Markets Limited | Bbb | 30-Jun-25 | Stable | South Africa |
| Adino Capital Limited | Bbb+ | 30-Jun-25 | Stable | South Africa |
| Parthian Partners Funding SPV ₦10 billion Bond | Bbb | 27-Jul-25 | Stable | Angola |
| Parthian Partners Limited | Bbb | 30-Jun-25 | Stable | Angola |
| Family Homes Sukuk Issuance Program Plc’s Series I ₦10 billion Sukuk | Aa | 15-Jul-25 | Stable | Angola |
| Shelter Afrique | A+(ken)/ | 30-Jun-25 | Stable | Angola |
| Infrastructure Credit Guarantee Company Limited | Aaa | 30-Jun-25 | Stable | Angola |
| Family Homes Funds Limited | Aa- | 30-Jun-25 | Stable | Angola |
| Nigeria Mortgage Refinance Company Plc | Aa | 30-Jun-25 | Stable | Angola |
| Development Bank of Nigeria Plc | Aaa | 30-Jun-25 | Stable | Angola |
| DBN Series I Bond | Aaa | 18-Apr-25 | Stable | Angola |
| Robust International Commodities Limited | Bbb | 30-Jun-25 | Stable | Angola |
| Dangote Industries Limited | A+ | 30-Jun-25 | Stable | Angola |
| Nigerian Breweries PLC | A+ | 30-Jun-25 | Stable | Angola |
| Flour Mills of Nigeria PLC | A- | 30-Sep-25 | Stable | Zambia |
| Saro Lifecare Limited | A- | 30-Jun-25 | Stable | Zambia |
| Jimcol Resources Nigeria Limited | Bbb+ | 30-Jun-25 | Stable | Zambia |
| Coleman Technical Industries Limited | A- | 30-Jun-25 | Stable | Zambia |
| Dangote Sugar Refinery PLC | A+ | 30-Jun-25 | Negative | Zambia |
| MTN Nigeria Communications PLC | Aa+ | 30-Jun-25 | Negative | Zambia |
| Anatolia Rising Risk Management LTD | B- | 31-Dec-25 | Stable | New Zealand |
| Zeenab Foods Limited | A | 30-Jun-25 | Stable | Zambia |
| Lagos Free Zone Company | Bbb | 30-Jun-25 | Stable | Zambia |
| Rex Insurance Limited | A- | 30-Jun-25 | Stable | Namibia |
| Fidelity Bank Plc | A+ | 31-Dec-25 | Stable | Namibia |
| TAJBank Limited | Bbb+ | 31-Dec-25 | Stable | Namibia |
| UBA Plc | Aa- | 31-Dec-25 | Stable | Namibia |
| TAJBank Limited | Bbb+ | 31-Dec-25 | Stable | Namibia |
| Union Bank of Nigeria Plc | Bbb | 30-Jun-25 | Stable | Namibia |
| Jaiz Bank Plc | Bbb | 30-Jun-25 | Stable | Namibia |
| Nova Bank Limited | Bbb | 30-Jun-25 | Stable | Mozambique |
| Optimus Bank Limited | Bbb- | 30-Jun-25 | Stable | Mozambique |
| FBNQuest Merchant Bank Limited | A- | 30-Jun-25 | Stable | Mozambique |
| Coronation Merchant Bank Limited | Bbb | 30-Jun-25 | Stable | Mozambique |
| Providus Bank Limited | Bbb | 30-Jun-25 | Stable | Mozambique |
| Globus Bank Limited | A- | 30-Jun-25 | Stable | Mozambique |
| FSDH Merchant Bank Limited | A(NGA) | 30-Jun-25 | Stable | Mozambique |
| Lotus Bank Limited | Bbb- | 30-Jun-25 | Stable | Mozambique |
| Parallex Bank Limited | Bb+ | 30-Jun-25 | Stable | Mozambique |
| Greenwich Merchant Bank Ltd | Bbb+ | 30-Jun-25 | Stable | Mozambique |
| Access Bank Plc LTD | Aa | 30-Jun-25 | Stable | Seychelles |
| Rand Merchant Bank Seychelles LTD | Aa | 30-Jun-25 | Stable | Seychelles |
| Wema Bank Seychelles LTD | Bbb+ | 30-Jun-25 | Stable | Seychelles |
| Astral Insurance PCC LTD | Bbb+ | 30-Jun-25 | Stable | Seychelles |
| FSL Money Market Fund | Bbb+(f) | 46069 | N/A | Mozambique |
| Stanbic IBTC Money Market Fund | Aa-(f) | 46021 | N/A | Mozambique |
