The largest Chinese rating agency, China Chengxin International Credit Rating Co, Ltd, assigns an “AAA” issuer credit rating to the Eurasian Development Bank, with a stable outlook
Almaty, 15 January 2024. China Chengxin International Credit Rating Co, Ltd (CCXI), the largest Chinese rating agency, assigned the Eurasian Development Bank (EDB) the highest “AAA” issuer credit rating on the national scale, with a stable outlook.
In the view of CCXI, the EDB, as a leading multilateral development institution in the region, has a clear strategic positioning and can achieve strategic goals as established. The EDB has a complete risk management framework and a prudent risk appetite and can meet its internal indicators as prescribed. Also, the Bank’s capital position is very strong, with the coverage ratio of usable equity on risk-weighted assets being very high and gross debts/usable equity at a relatively low level. The EDB is consistently profitable despite fluctuations amid changes in the operating environment. In terms of asset quality, the Bank’s NPL ratio remains very low despite challenging market conditions. Regarding liquidity, the EDB carries out prudent liquidity management, and its current assets can fully cover its short-term debt. Over recent years, the Bank has further broadened its financing channels. In addition, the shareholders’ contractual support and willingness to support the Bank are very strong, contributing to the EDB’s credit strength.
CCXI believes that the EDB’s credit rating will remain stable over the next 12 to 18 months.
Additional Information:
The Eurasian Development Bank (EDB) is an international financial institution investing in Eurasia. For 17 years, the Bank has worked to strengthen and broaden economic ties and foster comprehensive development in its member countries. The EDB's charter capital totals US $7 billion. Its portfolio consists principally of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing, and mechanical engineering. The Bank adheres to the UN Sustainable Development Goals and ESG principles in its operations.
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