Fitch affirms Asian Development Bank credit rating at 'AAA' with stable outlook
Deterioration in risk profile, rise in loan impairments could lead to downgrade, rating agency warns
ANKARA
Fitch Ratings said Friday it affirmed the Asian Development Bank's (AsDB) credit rating at 'AAA' with a stable outlook.
The global rating agency said AsDB's business environment is unchanged at low risk, noting the bank's policy response to the coronavirus pandemic has been one of the largest among multilateral development banks.
The agency warned, however, warned that a higher than expected growth in the bank's lending operations, or a large increase in loan impairments, could lead to negative rating action.
A significant deterioration in the bank's risk profile, or a large decline in the bank's liquid assets to short-term debt ratio, could also result in a downgrade, it added.
Established in 1966, AsDB promotes social and economic development in Asia and it has 68 member countries.
The US and Japan have the largest percentage of capital in the bank with 15.5% each, as of the end of 2020.
