S&P Corrects By Lowering To 'AA+' Debt Rating On Government Guaranteed Note Issued By Agence Francaise de Developpement Dec 12
- Language: English
- Published: December 2012
The ratings on Agence Fran-aise de D-veloppement (AFD), the principal instrument for French bilateral aid and concessionary lending to developing countries and to French overseas departments and territories, are based on Standard & Poor's expectation that the French state will maintain its strong financial and operational involvement with, and monitoring of, AFD. The ratings also reflect the ultimate statutory guarantee of the Republic of France (AAA/Stable/A-1+) on all of AFD's obligations. AFD is an "Etablissement Public Industriel et Commercial" (EPIC; a public industrial and commercial organization), and its strong implicit support from the French state is due to the agency's clear public policy role. Owing to its political importance, AFD is subject to close government supervision. As the sole shareholder,...
Companies mentioned in this report are: Agence Francaise de Developpement
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Agence Francaise de Developpement