Moody’s affirms West African Development Bank

Moody's Investors Service said it affirmed West African Development Bank's Baa1 long-term issuer and senior unsecured ratings and maintained the stable outlook.

The agency said its decision to affirm the rating reflects a challenging operating environment that points to the risk of a rapid deterioration in asset quality, notwithstanding the bank’s demonstrated capacity to preserve its capital position.

It also reflects the bank’s strong liquidity position, with very high debt service coverage, Moody’s said.

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