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Fitch affirms African Development Bank at ‘AAA’; outlook stable
ABIDJAN (Capital Markets in Africa) – Fitch Ratings has affirmed the African Development Bank’s (AfDB) Long-Term Issuer Default Rating (IDR) at ‘AAA’ with a Stable Outlook and Short- Term IDR at ‘F1+’. The ‘AAA’ rating primarily reflects extraordinary support from AfDB’s shareholders, assessed by Fitch at ‘aaa’, which provides a three-notch uplift over the bank’s intrinsic rating. AfDB enjoys strong support from its 80 member states, which include 26 non-African countries with high average ratings….
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