AIIB gets second triple-A credit rating

Updated 2017-07-14 09:21:43 Xinhua

The Fitch Ratings announced Thursday that it has assigned the Asian Infrastructure Investment Bank (AIIB) its highest possible rating and a stable outlook.

Fitch provided the AIIB with a long-term issuer default rating of AAA and a short-term issuer default rating of F1 , based on the bank's "existing and expected intrinsic strengths."

This was the AIIB's second top-notch credit rating in two weeks. Previously, Moody's Investors Service assigned the AIIB a long-term foreign currency issuer rating of AAA and a short-term foreign currency issuer rating of Prime-1 with a stable outlook.

Fitch said the AIIB has been endowed with a substantial capital base that will support its projected rapid expansion in lending, while its exposure to risk being mitigated by a comprehensive set of policies and high quality governance.

The bank enjoys "an excellent level of liquidity" and should benefit from easy access to capital markets, Fitch said.

"Risks are expected to remain low," Fitch said, expecting the average rating of the loan portfolio to be around 'BB' over the 10-year forecast period.

AIIB treasurer Soren Elbech has said obtaining a rating will pave the way for the bank to issue bonds, but "it will take several months before we are ready."

The Beijing-based AIIB was officially established in December 2015. It prioritizes investment in energy, power generation, transportation, rural infrastructure, environmental protection and logistics in Asia.

The bank now has 80 members or prospective members.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58March 22 2018 22:09:18

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16March 22 2018 22:09:18

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18March 22 2018 22:09:18

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

China World Business Sports Showbiz Audio
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
China World Fun Travel Entertainment Sports
Beijing Shanghai Guangzhou
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords