{"id":381242,"date":"2020-11-14T05:11:25","date_gmt":"2020-11-14T10:11:25","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=381242"},"modified":"2020-11-14T05:11:25","modified_gmt":"2020-11-14T10:11:25","slug":"moodys-investor-service-affirms-african-development-banks-aaa-credit-rating","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/moodys-investor-service-affirms-african-development-banks-aaa-credit-rating\/","title":{"rendered":"Moody\u2019s Investor Service affirms African Development Bank\u2019s AAA credit rating"},"content":{"rendered":"
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ABIDJAN, C\u00f4te d\u2019Ivoire, Nov. 14, 2020 (GLOBE NEWSWIRE) — Moody\u2019s Investor Service has affirmed the African Development Bank\u2019s AAA credit rating, with a stable outlook.<\/p>\n

\u201cThe credit profile of African Development Bank (AfDB) is supported by the bank\u2019s robust capital buffers and superior risk management, which mitigate risks,\u201d Moody\u2019s Investor Service said in an annual credit analysis dated 27 October 2020.\u00a0<\/p>\n

Moody\u2019s added: \u201cAn ample liquidity buffer and unfettered access to international capital markets also support its ability to meet its debt-service obligations. Moreover, the bank has a long track record of being the premier development institution in Africa and benefits from shareholders\u2019 ability and willingness to support its development objectives, exemplified by the significant contributions of highly rated non-regional member countries.\u201d<\/p>\n

Dr. Akinwumi Adesina, President of the African Development Bank, said: \u201cThe AAA rating by Moody\u2019s validates the strength of the Bank\u2019s prudent financial and risk management and strong governance systems even in the face of tough challenges imposed by the Covid-19 pandemic. The extraordinary support of the Bank\u2019s shareholders boosts our capacity to finance African countries. We will continue to manage risks and capital requirements adequately to help African countries to build their economies back better and faster, while assuring economic, health and climate resilience.\u201d<\/p>\n

Swazi Tshabalala, Acting Senior Vice President, Vice President for Finance and Chief Finance Officer at the African Development Bank, said: \u201cThanks to the solid backing of its shareholders and strong financial profile, the African Development Bank is rated triple-A with stable outlook by all the major international rating agencies.\u201d<\/p>\n

The \u2018AAA\u2019 rating from Moody\u2019s follows earlier affirmations of the \u2018AAA\u2019 rating of the Bank, with stable outlook, by the other leading rating agencies, namely Fitch Ratings, Standard and Poor\u2019s Global Ratings and Japan Credit Rating Agency.<\/p>\n<\/p>\n

\n About the African Development Bank Group
<\/strong>The African Development Bank Group is Africa\u2019s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.afdb.org<\/a><\/p>\n

\n Contact:<\/strong> Amba Mpoke-Bigg, Communication and External Relations Department, African Development Bank, email: a.mpoke-bigg@afdb.org<\/p>\n


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<\/div>\n","protected":false},"excerpt":{"rendered":"

ABIDJAN, C\u00f4te d\u2019Ivoire, Nov. 14, 2020 (GLOBE NEWSWIRE) — Moody\u2019s Investor Service has affirmed the African Development Bank\u2019s AAA credit rating, with a stable outlook. \u201cThe credit profile of African Development Bank (AfDB) is supported by the bank\u2019s robust capital buffers and superior risk management, which mitigate risks,\u201d Moody\u2019s Investor Service said in an annual credit analysis dated 27 October 2020.\u00a0 Moody\u2019s added: \u201cAn ample liquidity buffer and unfettered access to international capital markets also support its ability to meet its debt-service obligations. Moreover, the bank has a long track record of being the premier development institution in Africa and benefits from shareholders\u2019 ability and willingness to support its development objectives, exemplified by the significant contributions of highly rated non-regional … <\/p>\n

Continue reading “Moody\u2019s Investor Service affirms African Development Bank\u2019s AAA credit rating”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-381242","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nMoody\u2019s Investor Service affirms African Development Bank\u2019s AAA credit rating - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/moodys-investor-service-affirms-african-development-banks-aaa-credit-rating\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Moody\u2019s Investor Service affirms African Development Bank\u2019s AAA credit rating - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"ABIDJAN, C\u00f4te d\u2019Ivoire, Nov. 14, 2020 (GLOBE NEWSWIRE) — Moody\u2019s Investor Service has affirmed the African Development Bank\u2019s AAA credit rating, with a stable outlook. \u201cThe credit profile of African Development Bank (AfDB) is supported by the bank\u2019s robust capital buffers and superior risk management, which mitigate risks,\u201d Moody\u2019s Investor Service said in an annual credit analysis dated 27 October 2020.\u00a0 Moody\u2019s added: \u201cAn ample liquidity buffer and unfettered access to international capital markets also support its ability to meet its debt-service obligations. 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