Fitch revises Council of Europe view to stable

Fitch Ratings said it revised the outlook on the Council of Europe Development Bank to stable from positive and affirmed the long-term issuer rating at AA+.

“The revision of the outlook reflects Fitch’s expectation of downward pressure on the credit quality of CEB’s loan portfolio as a result of the economic impact of the global pandemic on the bank’s countries of operations. The affirmation and stable outlook also reflect our expectation that the bank’s ratings will be resilient to this negative shock,” the agency said in a press release.

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