Fitch affirms Asian Development Bank

Fitch Ratings said it affirmed Asian Development Bank's ratings at issuer default AAA and short-term F1+.

The outlook remains stable.

The ratings reflect the bank's strong support from high-quality non-borrowing shareholders, its protection against credit risk due to its preferred creditor status and its conservative financial policies. The bank benefits from strong support from its shareholder countries, which have committed to inject further capital in case of financial distress, Fitch said.

The bank also bears a high concentration risk, however, with the five largest exposures accounting for 178% of shareholders' equity at the end of 2005.

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