Fitch affirms Development Bank of Namibia

Fitch Ratings said it affirmed Development Bank of Namibia's long-term issuer default rating at BB+ and national long-term rating at AA+(zaf).

The outlooks are stable.

Fitch said the bank’s ratings are equalized with those of the Namibian sovereign (BB+/stable). Development Bank of Namibia is a policy bank and its issuer default ratings, support rating, support rating floor and national ratings reflect a moderate probability of support from the Namibian authorities in case of need, the agency explained.

The stable outlooks mirror the stable outlook on the sovereign.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.