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Moody’s “AAA” rating follows previous statements from the other leading rating agencies.
Moody’s Investor Service has affirmed the AAA credit rating of the African Development Bank, with a stable outlook.
“The credit profile of the African Development Bank (AfDB) is supported by the bank’s strong capital buffers and superior risk management, which mitigate risks,” Moody’s Investor Service said in an annual credit review.
According to Moody’s, a large liquidity cushion and unlimited access to international capital markets also support the bank’s ability to meet its debt service obligations. Furthermore, the bank has a long history of being the leading development institution in Africa and benefits from the ability and willingness of shareholders to support its development goals, exemplified by significant contributions from highly rated non-regional member countries.
Dr. Akinwumi Adesina, President of the African Development Bank, said in a statement that Moody’s AAA rating validates the soundness of the bank’s prudent financial and risk management and strong governance systems, even in the face of difficult challenges imposed. for the Covid-19 pandemic. .
“The extraordinary support from the bank’s shareholders increases our ability to finance African countries. We will continue to manage risks and capital requirements appropriately to help African countries rebuild their economies better and faster, while ensuring economic, health and climate resilience, “said Adesina.
Moody’s “AAA” rating follows previous affirmations of the bank’s “AAA” rating, with a stable outlook, by the other leading rating agencies, namely Fitch Ratings, Standard and Poor’s Global Ratings and the Credit Rating Agency of Japan.
