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AFRICAN DEVELOPMENT BANK $200 MILLION SUBORDINATED DEBT RATED "AA+" -- FITCH FINANCIAL WIRE --

AFRICAN DEVELOPMENT BANK $200 MILLION SUBORDINATED DEBT RATED "AA+"
 -- FITCH FINANCIAL WIRE --
 NEW YORK, Dec. 10 /PRNewswire/ -- The African Development Bank's $200 million fixed rate subordinated bonds are rated "AA+" by Fitch. The bonds mature in 2001. The credit trend is stable. The rating reflects the bank's solid operating performance, continued efforts to improve financial operations, and good liquidity. Although the bank's debt is not the direct obligation of any member government, the capital base includes commitments (callable capital) by non-borrowing member countries to meet debt obligations and bank guarantees.
 -0- 12/10/91
 /CONTACT: Ricardo Kleinbaum of Fitch, 212-908-0525/ CO: African Development Bank ST: IN: FIN SU: RTG


TS -- NY013 -- 0887 12/10/91 09:36 EST
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Publication:PR Newswire
Date:Dec 10, 1991
Words:118
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