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Fitch rates Asian Development Bank bond AAA
Fitch Ratings said it assigned the Asian Development Bank's RMB 1.2 billion fixed-rate bond issue due October 2020 a long-term rating of AAA.
The bond's rating is in line with the bank's long-term issuer default rating of AAA, which reflects the high credit standing of its non-borrowing sovereign shareholders, its comfortable capitalization and conservative financial policies, the agency said.
The bank's credit risk profile is characterized by high concentrations and a focus on low-rated counterparties, although the credit quality of some of the bank's largest borrowers improved in 2008 and 2009, the agency said.
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