Fitch affirms African Development Bank

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

The affirmation reflects the bank's high capitalization, liquidity, conservative risk management policies and the support it derives from its member states, Fitch said.

The bank has significantly increased its operations since 2009 while developing an ambitious program of private-sector financing, the agency said.

Exposure to credit risk is particularly significant, Fitch added.

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