China’s AIIB gathers three highest global credit ratings
S&P joins Moody’s and Fitch in show of confidence for infrastructure bank
China’s Asian Infrastructure Investment Bank (AIIB), in less than three weeks, has collected the three highest ratings from global credit rating agencies.
Chinese and foreign media report that the ratings reflect the development bank’s strong capital base and stable outlook.
On Tuesday, S&P Global Ratings announced that it’s assigned the AIIB, the financing arm of China’s Belt and Road Initiative (BRI), “its highest possible rating and a stable outlook.” This follows top-rung credit ratings from Moody’s on June 29 and Fitch on July 13.
S&P set the long-term issuer credit rating at AAA and the short-term rating at A-1+, both the highest, the agency said in a statement.
“The ratings reflect our opinion that over the next three-to-five years AIIB will establish a track record and significantly enhance its operational setup, supporting our assessment of its very strong business profile and its extremely strong financial profile,” the agency said.