Reuters: US Dollar Report: TEXT-S&P affirms Asian Development Bank 'AAA/A-1+' FC ratings

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TEXT-S&P affirms Asian Development Bank 'AAA/A-1+' FC ratings Jan 11th 2013, 12:30 Fri Jan 11, 2013 7:30am EST Jan 11 - Overview -- Following a review of the AsDB under our revised criteria for multilateral lending institutions, we are affirming our 'AAA/A-1+' foreign currency ratings on the bank. -- The stand-alone credit profile for the AsDB is 'aa+', reflecting our assessment of the bank's "extremely strong" business profile and its "strong" financial profile, as our criteria define these terms. -- The ratings incorporate one notch of potential extraordinary shareholder support owing to callable capital from 'AAA'-rated sovereigns. -- The stable outlook reflects our expectation that the bank's credit strengths will remain in place. Rating Action On Jan. 11, 2013, Standard & Poor's Ratings Services affirmed its 'AAA' long-term and 'A-1+' short-term foreign currency ratings on Asian Development Bank (AsDB). The outlook is stable. Rationale The ratings on the AsDB reflect the bank's "extremely strong" business profile and its "strong" financial profile, as our revised criteria for multilateral lending institutions (MLIs) define these terms (see "Multilateral Lending Institutions And Other Supranationals Ratings Methodology," published Nov. 26, 2012, on RatingsDirect on the Global Credit Portal). We therefore consider the AsDB to have a stand-alone credit profile (SACP) of 'aa+'. The rating also reflects one notch of potential extraordinary shareholder support over the SACP due to the bank's callable capital. The AsDB promotes the economic and social development of its members in the Asia-Pacific region through loans, policy dialogues, technical assistance, equity investments, grants, and guarantees. It is the third-largest MLI that we rate, after the International Bank for Reconstruction and Development (foreign currency AAA/Stable/A-1+) and Inter-American Development Bank (foreign currency AAA/Stable/A-1+). The bank benefits from strong shareholder support and diversity. Link this Share this Digg this Email Reprints

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