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Agence Francaise de Developpement Sep 02
Standard & Poors, Sep 2002
Abstract
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
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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