× Business BUSINESS MOTORING SHIPPING & LOGISTICS DR PESA FINANCIAL STANDARD Digital News Videos Health & Science Lifestyle Opinion Education Columnists Moi Cabinets Arts & Culture Fact Check Podcasts E-Paper Lifestyle & Entertainment Nairobian Entertainment Eve Woman Travelog TV Stations KTN Home KTN News BTV KTN Farmers TV Radio Stations Radio Maisha Spice FM Vybez Radio Enterprise VAS E-Learning Digger Classified Jobs Games Crosswords Sudoku The Standard Group Corporate Contact Us Rate Card Vacancies DCX O.M Portal Corporate Email RMS

Moody’s Investor Service affirms African Development Bank’s AAA credit rating

By Wainaina Wambu | November 16th 2020

Global ratings agency Moody’s Investor Service has affirmed the African Development Bank’s (AfDB’s) AAA credit rating, with a stable outlook.

In an annual credit analysis, Moodys said AfDB’s credit profile is supported by robust capital buffers and superior risk management, which mitigate risks.

“An ample liquidity buffer and unfettered access to international capital markets also support its ability to meet its debt-service obligations,” said the ratings agency.

“The bank has a long track record of being the premier development institution in Africa and benefits from shareholders’ ability and willingness to support its development objectives, exemplified by the contributions of highly rated non-regional member countries.”

AfDB President Akinwumi Adesina said the AAA rating by Moody’s validated the strength of the bank’s prudent financial and risk management and strong governance systems in the face of challenges imposed by Covid-19.

He said the extraordinary support of the bank’s shareholders boosts its capacity to finance African countries. “We will continue to manage risks and capital requirements adequately to help African countries to build their economies back,” he noted.   


Share this story
Kenya Airways resumes international flights
The first international flights will be to London, Dubai, Addis Ababa, Kigali, Dar es Salaam and Lusaka.
Property developers ride on holiday homes wave
Short-term rents such as Airbnb have become popular with buyers who don’t reside in the houses throughout the year.