Agence France Locale: Fitch maintains AFL's”AA-“ rating with a negative outlook
23 Outubro 2024 - 11:39AM
UK Regulatory
Agence France Locale: Fitch maintains AFL's”AA-“ rating with a
negative outlook
Lyon, October
23th, 2024
-
Fitch maintains AFL's”AA-“ rating
with a negative outlook
-
Following the revision of France’s outlook to
“negative”, Fitch Ratings confirmed AFL's “AA-” rating, yet with a
negative outlook.
At the beginning of September 2024, Fitch
Ratings has for the first time granted AFL, the bank for local
authorities, a “AA-” long-term rating and a “F1+” short-term
rating, with a stable outlook, equivalent to that of the French
State.
Following Fitch Ratings' decision on October 11,
2024 to maintain the Sovereign's rating at AA- but to revise the
outlook (from stable to negative), the rating agency also revised
the outlook for all local authorities and agencies with a rating
equivalent to that of the French State, including AFL.
Besides, AFL maintains S&P's “AA-” rating
with a stable outlook.
AFL credit rating at 23 October
2024
|
Rating/Rating agency |
Fitch Ratings |
Standard & Poor's |
|
Long term |
AA-, negative outlook |
AA-, stable outlook |
|
Short-term rating |
F1+, negative outlook |
A-1+, stable outlook |
About AFL
“The Company’s mission is to embody
a responsible finance to strengthen the local world’s empowerment
so as to better deliver the present and future needs of its
inhabitants.”
By creating our bank, the first one that we own
and manage, we, French local authorities, have decided to act to
deepen decentralization. Our bank, Agence France Locale (AFL), is
not a financial institution similar to any other. Created by and
for local authorities, it aims to strengthen our freedom, our
ability to develop projects and our responsibility as local public
actors. Its culture of prudence spares us from the dangers of
complexity and its governance from downward slides of conflicts of
interest. The main objective is to provide local world with an
access to cost-efficient resources, under total transparency. The
principles of solidarity and equity drive us. We are convinced that
together we go further. We decided that our institution would be
agile, addressing all types of local authorities, from the largest
regions to the smallest municipalities. We see profit as a means to
maximize public spending, not as an end goal. Through AFL, we
support a local world committed to take up social, economic, and
environmental challenges. AFL strengthens our empowerment: to carry
out projects in our territories, today and tomorrow, to the
benefits of the inhabitants. We are proud to have a bank whose
development is like us, even more responsible and sustainable. We
are Agence France Locale.
- CP Fitch - Negative outlook
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