Tuesday, June 15

Tag: S&P Global AAA Rating

African Development Bank gets S&P Global’s AAA rating, with stable outlook
Business

African Development Bank gets S&P Global’s AAA rating, with stable outlook

Rating agency S&P Global has affirmed its 'AAA/A-1+' long- and short-term issuer credit assessment of the African Development Bank (AfDB) with a stable outlook The rating agency positively assessed the Bank’s very strong financial risk profile, very strong capital adequacy, strong funding and liquidity, extraordinary shareholder support, and adequacy of its governance and management. “We are therefore affirming our ‘AAA’ long-term issuer credit rating on the AfDB,” S&P Global stated. The rating agency noted the Bank’s $115 billion capital increase, approved by shareholders in October 2019, and the replenishment to the African Development Fund, the Bank’s concessional window, in December 2019. “The stable outlook reflects our expectation that, over the next two years, A...
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