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Browsing: Global Capital
Global credit rating agency Fitch Ratings has affirmed the African Development Bank’s (www.AfDB.org) credit rating at ‘AAA’, with a stable outlook.
Fitch said the triple-A rating was driven by the ‘extraordinary support’ of the Bank’s shareholders.
Fitch views the Bank’s risk-management policies as ‘conservative’ and assesses them as ‘excellent’, in line with AAA-rated peers. “Concentration risk is ‘low’, with the bank’s five largest exposures accounting for 32% of total banking portfolio at end-2020.”
Bajabulile “Swazi” Tshabalala, Vice President for Finance and Chief Finance Officer of the African Development Bank, said: “The affirmation of the Bank’s triple-A ratings by Fitch, recognizes the very strong shareholder support our institution benefits from, as well as its strong capitalization and risk management capabilities. The affirmation also speaks to the importance of the Bank’s public policy mandate, particularly during these very challenging times.”
The global ratings agency assesses the Bank’s overall exposure to …