Moody's: Shelter-Afrique Ba1

Moody's Investors Service said it assigned a first-time Ba1 long-term foreign-currency issuer rating to Shelter-Afrique.

The outlook is stable.

The rating reflects high support from the African Development Bank as the largest shareholder with 22.6% of the capital, Moody's said.

Shelter-Afrique also benefits from the support from its other shareholders, the agency said, as evidenced by the shareholders' unanimous decision to double the bank's capital base in 2009.

The bank displays a moderate resilience to shocks driven by strong liquidity and ongoing efforts to strengthen governance and risk management, which is improving from a low level, Moody's added.

© 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.