Agence Francaise de Developpement Sep 08
Standard & Poors, September 2008
Abstract
State's ultimate statutory guarantee Sovereign mandate for official development assistance Sound governance and management practices Asset quality Risk concentrations 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, reflect AFD's legally mandated place in the official development assistance (ODA) machinery of the French state, an activity that can't be undertaken on a commercial basis. The ratings also reflect the French state's strong financial and operational involvement with and monitoring of AFD, as well as the ultimate statutory guarantee of the Republic of France (AAA/Stable/A-1+) on all of AFD's financial obligations derived from the agency's status as an "Etablissement Public." AFD's efficiency and ability...
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
Agence Francaise de Developpement
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