{"id":65449,"date":"2024-03-23T16:28:08","date_gmt":"2024-03-23T16:28:08","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/fitch-ratings-affirms-development-bank-of-namibia-credit-rating"},"modified":"2024-03-23T17:24:17","modified_gmt":"2024-03-23T17:24:17","slug":"fitch-ratings-affirms-development-bank-of-namibia-credit-rating","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/fitch-ratings-affirms-development-bank-of-namibia-credit-rating","title":{"rendered":"Fitch Ratings affirms Development Bank of Namibia credit rating"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>Fitch Ratings on Saturday affirmed the Development Bank of Namibia\u2019s (DBN) Long-Term Issuer Default Rating (IDR) credit rating at BB- with stable outlook.<\/p>\n

However, the rating agency kept DBN\u2019s National Long-Term Rating at AA+, noted the statement from Fitch.<\/p>\n

\u201cDBN\u2019s BB- Long-Term IDRs are driven by potential support from the Namibian authorities, as expressed by its Government Support Rating (GSR) of bb-.<\/p>\n

\u201cDBN\u2019s Long-Term IDRs and GSR are equalised with Namibia\u2019s BB- Long-Term IDRs. The Stable Outlook on DBN\u2019s Long-Term IDRs mirrors that on Namibia\u2019s Long-Term IDRs. DBN\u2019s National Long-Term Rating of AA+(zaf) is equalised with that of Namibia and reflects the bank\u2019s creditworthiness relative to that of issuers in South Africa and Namibia,\u201d the rating agency noted.<\/p>\n

According to Fitch, the stable outlook reflects that on Namibia\u2019s National Long-Term Rating.<\/p>\n

\u201cThe Namibian government has a high propensity to support DBN, in our view, given the bank\u2019s important policy role, 100% state ownership and significant share of government-guaranteed funding. However, the sovereign\u2019s ability to provide support is constrained by its own creditworthiness, as indicated by its IDR,\u201d Fitch said.<\/p>\n

Fitch also noted that the DBN\u2019s impaired loans ratio increased to 33% at end-March 2023 but eased slightly by end-December 2023 due to write-offs and some recoveries.<\/p>\n

\u201cThe sharp deterioration reflects DBN\u2019s weak risk profile due to its development lending focus and weak economic conditions, due partly to the pandemic, weighing on borrowers\u2019 repayment capacity,\u201d Fitch noted.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. Fitch Ratings on Saturday affirmed the Development Bank of Namibia\u2019s (DBN) Long-Term Issuer Default Rating (IDR) credit rating at BB- with stable outlook. However, the rating agency kept DBN\u2019s National Long-Term Rating at AA+, noted the statement from Fitch. \u201cDBN\u2019s BB- Long-Term IDRs are driven by potential support from the Namibian authorities, […]<\/p>\n","protected":false},"author":84,"featured_media":65447,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,236,233],"class_list":["post-65449","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nFitch Ratings affirms Development Bank of Namibia credit rating - Namibia<\/title>\n<meta name=\"description\" content=\"Fitch Ratings on Saturday affirmed the Development Bank of Namibia\u2019s (DBN) Long-Term Issuer Default Rating (IDR) credit ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/fitch-ratings-affirms-development-bank-of-namibia-credit-rating\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fitch Ratings affirms Development Bank of Namibia credit rating\" \/>\n<meta property=\"og:description\" content=\"Fitch Ratings on Saturday affirmed the Development Bank of Namibia\u2019s (DBN) Long-Term Issuer Default Rating (IDR) credit ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/fitch-ratings-affirms-development-bank-of-namibia-credit-rating\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-23T16:28:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-23T17:24:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2024\/03\/sm_1711199870.956782.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/fitch-ratings-affirms-development-bank-of-namibia-credit-rating#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/fitch-ratings-affirms-development-bank-of-namibia-credit-rating\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Fitch Ratings affirms Development Bank of Namibia credit rating\",\"datePublished\":\"2024-03-23T16:28:08+00:00\",\"dateModified\":\"2024-03-23T17:24:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/fitch-ratings-affirms-development-bank-of-namibia-credit-rating\"},\"wordCount\":268,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/fitch-ratings-affirms-development-bank-of-namibia-credit-rating#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2024\/03\/sm_1711199870.956782.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/fitch-ratings-affirms-development-bank-of-namibia-credit-rating#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/fitch-ratings-affirms-development-bank-of-namibia-credit-rating\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/fitch-ratings-affirms-development-bank-of-namibia-credit-rating\",\"name\":\"Fitch Ratings affirms Development Bank of Namibia credit rating - 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