AfDB keeps triple-A rating

The African Development Bank’s (AfDB) credit rating has been kept at AAA, with a stable outlook by Moody’s Investor Service.

The rating agency has affirmed the Côte d’Ivoire-based development financier on its robust capital buffers and superior risk management.

This comes after the development financier raised $3 billion through the issuance of a US dollar-denominated coronavirus disease 2019 (Covid-19) social bond, earlier in 2020.

Earlier in the year, Fitch Ratings affirmed AfDB’s long-term issuer default rating (IDR) at AAA, with a stable outlook.

See issuer profile here