https://www.engineeringnews.co.za

Positive ratings from S&P’s, Fitch enhances NDB’s lending capacity

29th August 2018

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

Multilateral development bank New Development Bank (NDB) has been assigned an AA+ long-term and A-1+ short-term issuer credit rating by Standard & Poor’s Global Ratings (S&P’s).

Earlier this month, Fitch Ratings assigned the bank a long-term issuer default rating of AA+ with a stable outlook and a short-term issuer default rating of F1+.

S&P’s stated that its ratings reflect its opinion that NDB will establish itself as a catalyst in reducing the infrastructure deficits faced by its Brics – Brazil, Russia, India, China and South Africa – members.

The agency assessed the NDB’s financial profile as “extremely strong”, reflecting its robust capitalisation and ample liquidity.

S&P’s also acknowledged robust shareholder support as a key rating factor.

“Given the scale of our future ambitions, the AA+ ratings from S&P’s and Fitch put the bank in an exceptional position to mobilise financial resources at competitive rates, thereby greatly enhancing our lending capacity to our members.

“These ratings also mark the beginning of an exciting period for the bank wherein it will look to establish itself as a benchmark issuer in global capital markets. This milestone enables the bank to offer a full suite of financial products to its public and private sector clients,” said NDB president Kundapur Kamath.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Latest Multimedia

Photo of Martin Creamer
On-The-Air (26/04/2024)
Updated 2 hours 16 minutes ago By: Martin Creamer

Showroom

Rentech
Rentech

Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.068 0.12s - 142pq - 2rq
Subscribe Now