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Agence Francaise de Developpement Jun 05
Standard & Poors, June 2005
Abstract
The ultimate statutory guarantee of the Republic of France on all of the entity's obligations; A politically essential mandate--the entity is the principal instrument for French bilateral aid and concessionary lending; and A strong risk-adjusted capital ratio. Asset quality and high concentration risks that reflect the nature of its activities in developing countries, albeit offset by a conservative provisioning policy and state guarantee mechanisms; and Lack of diversification of activities and revenues. 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 territories, are based on Standard & Poor's expectation that the French state will sustain its strong financial and operational involvement with and monitoring...
Companies mentioned in this report are: Agence Francaise de Developpement,France (Republic of) (Unsolicited Ratings)
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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