S&P affirms Asian Development Bank

S&P said it affirmed its AAA long-term and A-1+ short-term foreign currency issuer credit ratings on Asian Development Bank.

The outlook remains stable.

The agency said it affirmed the ratings to reflect an assessment of the bank's extremely strong business profile and financial profile.

S&P said the bank significantly improved its capital position and lending capacity due to the merger of the lending operations of the Asian Development Fund into Asian Development Bank's Ordinary Capital Resources.

The agency said it believes this to be positive for the bank, but countries funded on concessional terms could affect the pristine preferred creditor treatment track record.

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