Fitch boosts Council of Europe

Fitch Ratings said it upgraded the Council of Europe Development Bank's (CEB) long-term issuer default and senior unsecured ratings to AAA from AA+.

“The upgrade primarily reflects a strengthening in our assessment of the bank's solvency following the approval of a new capital increase by CEB's shareholders in December 2022. The agency now expects CEB to operate with stronger capital ratios over the medium term.

“The upgrade also reflects the resilience in the bank's loan performance (with no non-performing loan (NPL) in the last decade) and a strengthening of its policy importance, given its role in providing support to refugees in the recent crisis, including following the Russia-Ukraine conflict,” Fitch said in a press release.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.