The international rating agency Fitch Ratings once again assigns a triple A rating to the African Development Bank (AfDB) with a stable outlook. A note which confirms the financial strength of the Pan-African bank, reinforced by the unwavering support of shareholders, but also the issuance of its five-year bond loan of 2.75 billion dollars.
“The African Development Bank welcomes the fact that Fitch has confirmed its AAA rating, with a stable outlook, despite the enormous challenges posed by the Covid-19 pandemic. The Bank will continue to strengthen its fiscal policy and relevance in support of African countries facing the global and regional repercussions of the pandemic “, welcomed the President of the African Development Bank Group, Dr Akinwumi Adesina.
According to the international rating agency, the bank’s risk management policies are rated as “conservative and excellent” and “concentration risk is low, with the Bank’s five largest exposures representing 32% of its total portfolio to the end of 2020. ”
For the group’s interim senior vice-president, in charge of Finance, and managing director of the financial complex, “the confirmation of the Bank’s AAA rating by Fitch testifies to the very strong support enjoyed by our institution, as well as its strong capacity. mobilization of capital and risk management ”.
