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Fitch assigns Asian Development Bank bonds AAA
Fitch Ratings said it assigned Asian Development Bank's five-year senior unsecured bonds of Thai baht 5 billion due 2010 a long-term rating of AAA.
The rating reflects the bank's high-quality shareholders, its protection against credit risk originating from its preferred creditor status and its conservative financial policies, the agency said.
However, the bank also bears high concentration risk, with sovereign loans to Indonesia, China and the Philippines representing 65% of its total portfolio at year-end 2004, Fitch said.
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