AAA/Aaa credit rating
The Council of Europe Development Bank is rated by the three most prestigious international rating agencies: Fitch Ratings, Moody's Investors Service and Standard & Poors. It enjoys the highest rating (AAA/Aaa), which mirrors its strong financial profile, the support of its shareholders and its stringent risk management policy.
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Moody's: Aaa
"CEB's Aaa rating is solidly underpinned by its strong capital adequacy, sound financial policies, excellent loan performance, the strong support of its shareholders, and preferred creditor status. CEB's ability to adapt to changing realities allows it to have a very meaningful role in development finance."
(Excerpt from the rating report - June 2007)
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Fitch Ratings: AAA
"The ratings of the Council of Europe Development Bank (CEB) are based on the credit standing of its shareholders, its strong asset quality and stringent risk management policies."
"Asset quality remains excellent: CEB had no loans classified as impaired or overdue at end-2006. This reflected the high credit quality of its loan book, which carried an average credit rating of 'A', at end-2006."
(Excerpts from the rating report - 20 September 2007)
| Full report (Sept 2007) |
Standard & Poor's: AAA
"From 2007-2009, annual disbursements will total about €1.6 billion. CEB will continue to increase its operations in Central and Southeastern Europe. In this context, the bank's prudential risk management framework has successfully provided a sensitive gauge of the true risks incurred and indicated the bank's capacity for action."
"Capital quality remains excellent, with 'AAA' rated member countries holding 64% of CEB's capital, and investment-grade shareholders accounting for more than 90% in 2006. CEB's shareholders' equity is buttressed by €2.9 billion of callable capital. CEB's existing capital base should be sufficient to support the bank's 2005-2009 lending program without recourse to a further capital increase."
"CEB's capital adequacy and financial guidelines have significantly strengthened since the fifth capital increase and the establishment of a new prudential risk management framework introduced within the 2005-2009 Development Plan."
(Excerpts from the rating report - 24 September 2007)
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