Fitch Provides Agence France Locale with AA- Credit Rating
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Fitch Ratings Upgrades Agence France Locale’s Credit Standing
Agence France Locale (AFL) is making headlines as Fitch Ratings has assigned it a prestigious « AA- » rating for long-term credit and « F1+ » for short-term credit with a stable outlook. This upgrade places AFL on equal footing with the French government in terms of creditworthiness, showcasing its strong support from local and regional governments.
Understanding the Fitch Rating Assignment
Fitch Ratings, a leader in global credit ratings, has highlighted that AFL’s ratings reflect its association with the French local and regional governments, which maintain the highest possible credit profiles. By achieving this notable rating, AFL aligns itself with other respected public agencies and banks in Northern Europe, paving the way for enhanced recognition in capital markets.
AFL's Position in the Market
According to Yves Millardet, Chairman of AFL's Management Board, the rating not only affirms AFL's credibility but also facilitates easier access to capital markets for distributing its debt instruments. AFL is now positioned to continue providing French local authorities with financing under optimal conditions, a crucial factor considering the dynamic economic landscape.
AFL’s Strategic Decisions
In a surprising turn, AFL has decided to request the withdrawal of its ratings from Moody’s for methodological reasons. This move reflects its strategic approach to maintain focus on its established ratings while simplifying its assessment structure.
About Agence France Locale
AFL's mission centers on promoting responsible finance aimed at empowering local communities. It serves as a unique institution created by local authorities, striving to enhance decentralization and facilitate project development across various levels of government.
Commitment to Local Authorities
AFL distinguishes itself from traditional financial institutions by prioritizing transparency and cost-efficient resource access for local authorities, whether large regions or smaller municipalities. The bank is driven by principles of solidarity and equity, reinforcing its commitment to assist in tackling social, economic, and environmental challenges within communities.
Empowering Future Generations
AFL prides itself on its culture of prudence, steering clear of unnecessary complexities and potential conflicts of interest. The organization views profitability as a means to enhance public spending, ensuring that funds are utilized effectively for community development. Through these efforts, AFL is dedicated to empowering local projects today and in the future for the benefit of all inhabitants.
Frequently Asked Questions
What credit rating did Fitch assign to AFL?
Fitch assigned a « AA- » long-term credit rating and « F1+ » short-term credit rating to Agence France Locale.
What does the stable outlook from Fitch indicate?
A stable outlook from Fitch indicates that there is a low likelihood of a rating downgrade in the near future, suggesting ongoing confidence in AFL's creditworthiness.
Why did AFL request Moody’s to withdraw its ratings?
AFL requested the withdrawal of its ratings from Moody’s due to methodological reasons, focusing instead on its established ratings from Fitch.
How does AFL support local authorities?
AFL supports local authorities by providing cost-efficient financing solutions and promoting projects that address the needs of communities sustainably.
What are the core principles of AFL?
AFL operates on the core principles of solidarity, equity, and total transparency, aiming to enhance decentralization and empower local governments in France.
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