Fitch affirms African Development Bank

Fitch Ratings said it affirmed the African Development Bank's long-term issuer default rating at AAA, along with its short-term issuer default rating at F1+.

The outlook is stable.

The ratings are primarily based on support from the bank's 77 member countries, its high level of capitalization and conservative risk management policies, Fitch said.

The bank's policies regarding risk management, gearing and liquidity are conservative and capitalization is strong, the agency said.

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