AIIB says preparation needed before bond issuance

Updated 2017-07-01 14:46:27 Xinhua

The Asian Infrastructure Investment Bank (AIIB) said Friday that its bond issuance needs preparation, which may take several months.

This came after the AIIB received a top-notch credit rating from Moody's Investors Service.

On Thursday, Moody's 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.

The credit rating agency cited the strength of the bank's governance frameworks, including its policies on risk management, robust capital adequacy and strong liquidity position, as reasons for the high rating.

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

There are a number of steps the bank must take, including getting a risk weighting, completing documentation and finishing a hiring plan, Elbech said.

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.

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