Fitch affirms Agence Francaise de Developpement

Fitch Ratings said it affirmed Agence Francaise de Developpement's long-term issuer default rating at AA with a stable outlook and short-term issuer default rating at F1+.

The agency also affirmed its senior unsecured notes at AA.

Fitch said it classifies Agence Francaise de Developpement as a government-related entity of the state of France (AA/stable/F1+) and equalizes its ratings with those of the sovereign.

The agency said that in its view, the entity is strongly linked with the French state and the latter has a strong incentive to support Agence Francaise de Developpement.

“Accordingly, we believe that the French state would provide AFD with timely extraordinary support in case of need,” Fitch said in a news release.

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