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African Development Bank’s “AAA” Ratings Affirmed with a Stable Outlook
The African Development Bank “AAA” ratings were affirmed with a stable outlook by the four leading international rating agencies that rate the Bank. According to Standard & Poor’s, Moody’s, Fitch and JCR (Japan Credit Rating Agency Ltd.), these ratings are underpinned by the Bank’s strong financial profile as well as prudent financial management and policies. These strengths helped the Bank to operate in a volatile operating environment marked by socio-political and economic turbulence in North Africa, and rampant crisis in the Euro zone. Rating agencies have also recognized the Bank’s shareholders’ support as a major factor contributing to the Bank’s excellent credit quality. This support was demonstrated by shareholders’ unanimous decision to approve the Sixth General Capital Increase tripling the Bank’s capital base.
The stable outlook on the Bank’s rating balances its intrinsic strengths with the requisite of further building its resilience and adapting its business strategy to the changes in its operating environment.
These are equally important for the Bank to continue maximizing its added-value for its shareholders and Regional Member Countries while protecting its balance sheet and financial soundness.