(Yicai Global) July 17 -- Fitch Ratings Inc., one of the Big Three credit rating agencies, recently assigned the Asian Infrastructure Investment Bank (AIIB) its highest possible rating with a stable outlook, state-run Xinhua news agency reported.
Fitch provided the AIIB with a long-term issuer default rating of AAA and a short-term issuer default rating of F1+ based on the bank's "existing and expected intrinsic strengths."
Fitch said the AIIB has been endowed with a substantial capital base that will support its projected rapid expansion in lending, while its exposure to risk will be mitigated by a comprehensive set of policies and high-quality governance.
About two weeks ago, the bank received the highest rating from Moody's Investors Service, another member of the Big Three.
"The rating is very critical for our positioning in international capital markets," Soeren Elbech, treasurer at AIIB, told the Wall Street Journal. "It puts us at the very level of the World Bank and the IMF."
The AIIB was founded in January 2016 with USD100 billion, USD20 billion of paid-in capital and USD80 billion in pledged funds. The bank has approved 16 infrastructure investment projects with investments totaling almost USD2.5 billion. The number of AIIB members has continued to increase.