AIIB gets top rating by Fitch

CAIRO – 14 July 2017: The Asian Infrastructure Investment Bank (AIIB) was given a Long-Term Issuer Default Rating (IDR) of AAA by Fitch on Thursday, with a stable outlook, which is the highest credit quality that reflects the lowest risk expectations.

Fitch evaluated AIIB as able to expand in lending. “Exposure to risk will be mitigated by a comprehensive set of policies and by high quality governance,” the international rating agency said.

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

On June 29, Moody’s Investors Service has given AIIB the highest debt issuer rating of AAA and stable outlook.

Beijing-based AIIB was founded in December 2015, considering investment in energy, power generation, transportation, rural infrastructure, environmental protection and logistics. Bank members are 80 countries.

The AIIB will study funding for new and renewable energy projects in Egypt, Minister of Finance Amr El-Garhy said last month.

While attending the annual AIIB meeting on South Korea’s island of Jeju, Garhy said AIIB praised the decisions taken by the Egyptian government towards reforming its fiscal policies.