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
An ultimate statutory guarantee from the French government. Sovereign mandate for official development assistance. Sound governance and management practices. Asset quality. Risk concentration. The ratings on Agence Fran-aise de D-veloppement (AFD) are equalized with the ratings on the Republic of France (AAA/Watch Neg/A-1+), reflecting Standard & Poor's Ratings Services' opinion that there is an "almost certain" likelihood that the French government would provide timely and sufficient extraordinary support to AFD in the event of financial distress. Under our criteria, we consider AFD to be a government-related entity (GRE) and we base our rating approach on our view of AFD's: "Critical" role as the legally mandated agency for the French government's bilateral aid and concessionary lending to developing and emerging countries...
Companies mentioned in this report are: Agence Francaise de Developpement
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Agence Francaise de Developpement