The Arab Bank for Economic Development in Africa (BADEA) receives an inaugural rating of Aa2 from Moody's Investors Service (“Moody's”) with a positive outlook reflecting the bank's particular strengths.

Moody's today gave BADEA an extremely high rating, coinciding with the 48th anniversary of the establishment of the Bank by eighteen visionary member countries of the League of Arab States (LAS). Moody's rating reflects the extraordinary progress made in the bank's conservative transformation process by the Board of Governors, Board of Directors and Senior Management since the strategic decision to begin non-sovereign lending was made.

Moody's also noted that the main strengths underpinning BADEA's Aa2 rating are a very strong capital position, low leverage, an extremely high level of liquid resources supported by prudent liquidity management and a high level extra-contractual support from its shareholders. The positive outlook reflects Moody's view that continued improvement in the performance of BADEA's assets would likely support a higher rating going forward.