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Fitch affirms African Development Bank

August 10 2012 at 06:49pm

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CorporateBusiness

Fitch Ratings on Friday affirmed the African Development Bank's long-term issuer default rating at AAA with a stable outlook due to its high level of capitalisation.

It was noted that the bank's equity to asset ratio‚ at 24.1% at end-2011 was one of the strongest among regional multilateral development banks.

“This ratio has declined over the past four years as a result of the rapid increase in lending‚ but will be strengthened in 2012 as the first instalment of the 200% capital increase approved in 2010‚ 6% of which is paid-in capital‚ is disbursed by member countries‚” said Fitch. - I-Net Bridge


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