23-I-0043
October 12, 2023

Japan Credit Rating Agency, Ltd. (JCR) announces the following credit rating.

The African Development Bank (security code: -)<Assignment>
Bonds:

AAA<Affirmation>
Long-term Issuer Rating:
Outlook:Bonds:

AAA
StableAAA

Rationale(1) The African Development Bank (the Bank) is a multilateral development bank (MDB) with themandate to support the sustainable economic and social progress in its regional member countries.
The ratings primarily reflect the solid support the Bank enlists from its regional and non-regional
member countries; its solid financial base; its prudent financial and risk management policies; andits status as a "preferred creditor". The Bank’s subscribed capital has been largely expanding in
keeping with progress on the payment of two capital increases, a massive seventh general capitalincrease (GCI-VII) in October 2019 and a special temporary callable capital increase in March 2021.
This will allow the Bank to meet the growing demand for loans and investments while staying
compliant with its internal regulations. In response to the COVID-19 pandemic and food insecurity in
its regional member countries, the Bank has been providing support to them by setting up its own
facilities to mitigate the impacts.
(2) Founded in 1964, the Bank consists of 54 regional member countries and 27 non-regional member
countries. The Bank Group mainly consists of the Bank, the African Development Fund (AfDF) andthe Nigeria Trust Fund (NTF). While the Bank itself makes loans mainly to the region’s middle-income
countries and non-sovereign sectors, AfDF and NTF provide low-income countries with moreconcessional loans and grants.
(3) In response to the pandemic and food insecurity, the Bank has been providing support to regional
member countries by establishing its own facilities such as the COVID-19 Responses Facility andAfrican Emergency Food Production Facility. Based on its Ten-Year Strategy (2013-2022) aimed topromote Africa’s inclusive growth and phased transition to green growth, the Bank has beenpromoting the “High 5s”, namely, Light Up and Power Africa, Feed Africa, Industrialize Africa,
Integrate Africa, and Improve the Quality of Life for the People of Africa. Its new Ten-Year Strategy(2023-2032), to be released by the end of 2023, will continue to promote and scale up the "High 5s",
facilitate private sector investment and respond to the climate change.
(4) The Bank retains a solid financial base, supported by its strong capitalization and ample liquidity. Its
authorized capital increased to UA 180.6 billion (about USD 240 billion) at the end of June 2023
thanks to the massive GCI-VII and the special temporary callable capital increase. As the paymentof the capital increases has been making progress, the subscribed capital accounts for more than
80% of its authorized capital. Most of the subscribed capital is callable capital, of which some 40%
have been pledged by non-regional member countries consisting largely of highly creditworthy
countries such as the United States, Japan and Germany. The callable capital can be called andaccepted if needed. The Bank had ample liquidity, with its liquid assets centering on highly
creditworthy notes totaling 1.4 times the minimum liquidity at the end of 2022. Its NPL ratio (stage 3)
as of the same date stood at 3.4%, flat from the previous year. However, the asset quality of its nonsovereign loans tended to improve and its NPL ratio was down to 2.6% at the end of June 2023. The
sovereign loans made by the Bank except one for Zimbabwe have been repaid on schedule thanks
to its status of a preferred creditor. For its non-sovereign loans, the Bank has conservatively built up
allowances for credit losses, so any additional credit costs incurred are expected to be mostly
absorbed by earnings. The Bank’s risk capital utilization ratio based on its internal regulations had
stayed close to its upper limit due mainly to increased risk of its loan and investment exposure.
However, the ratio has now returned to appropriate levels thanks to progress on payment of capitalincreases and asset optimization transactions.
Hiroshi Tonegawa, Shinji Asano1 / 14
Copyright © Japan Credit Rating Agency, Ltd. All Rights Reserved.

Rating
Issuer: The African Development Bank
<Assignment>
IssuesAmount (mn)Issue Date

Due Date

CouponRating

AUD Global Notes_495_14

AUD 1,035

Jan. 27, 2023

Jan. 10, 2025

4.00%

AAA

ZAR Global Notes_558_12

ZAR 11,200

Mar. 1, 2023

Apr. 5, 2046-

AAA

IDR Global Notes_1102_1

IDR 32,000

Feb.21, 2023

Feb. 22, 2028

5.00%

AAA

CNY Global Notes_1103_1

CNY 1,000

Jan. 17, 2023

Jan. 20, 2026

2.61%

AAA

Dual Currency TZS/USD
Global Notes_1105_1

USD 10Jan. 17, 2023

Jul. 17, 2024

8.10%

AAA

ZAR Global Notes_1106_1

ZAR 2,000

Feb. 1, 2023

Feb. 1, 2043-

AAA

ZAR Global Notes_1107_1

ZAR 2,000

Feb. 1, 2023

Feb. 1, 2038-AAA

SEK Green Global
Notes_1108_2

SEK 1,500

Feb. 9, 2023

Jan. 27, 2028

2.875%

AAA

Dual Currency TZS/USD
Global Notes_1109_1

USD 8

Feb. 2, 2023

Sep. 2, 2024

8.00%

AAA

MXN Global Notes_1110_1

MXN 5,750

Feb. 3, 2023

Feb. 3, 2053-

AAA

MXN Global Notes_1111_1

MXN 20Mar. 6, 2023

Mar. 7, 2025

9.02%

AAA

USD Global Notes_1112_1

USD 10Feb. 10, 2023

Feb. 10, 2025

6.80%

AAA

Callable USD Global
Notes_1113_1

USD 50Feb. 17, 2023

Feb. 17, 2028

4.90%

AAA

USD Global Notes_1114_1

USD 100

Feb. 17, 2023

Dec. 2, 2025

4.10%

AAA

Callable USD Global
Notes_1115_1

USD 25

Feb. 28, 2023

Feb. 28, 2028

4.875%AAAVND Global Notes_1116_1

VND 350,000

Feb. 23, 2023

Feb. 23, 2024

7.00%

AAA

HKD Global Notes_1117_1

HKD 200

Mar. 6, 2023

Mar. 6, 2024

4.33%

AAA

INR Global Notes_1118_1

INR 249

Apr. 20, 2023

Apr. 21, 2028

5.50%

AAA

AUD Global Notes_1119_1

AUD 50Mar. 8, 2023

Mar. 8, 2033

4.70%

AAA

Callable Capped FX-Linked
Interest/Redemption JPY
Global Notes_1120_1

JPY 150

Mar. 16, 2023

Mar. 17, 2053

(Note 1)AAA

AUD Global Notes_1121_2

AUD 75

Jul. 13, 2023

Mar. 8, 2038

5.00%

AAA

HKD Global Notes_1122_1

HKD 200

Mar. 15, 2023

Mar. 15, 2024

4.47%

AAA

CNY Global Notes_1123_1

CNY 160

Mar. 8, 2023

Sep. 8, 2024

2.78%

AAA

NOK Global Notes_1124_2

NOK 2,000

Jun. 13, 2023

Mar. 9, 2028

3.753%AAA

USD Global Notes_1125_1

USD 2,000

Mar. 14, 2023

Mar. 14, 2028

4.375%AAA

MXN Global Notes_1126_1

MXN 20

Apr. 11, 2023

Apr. 11, 2025

10.00%AAAUGX Global Notes_1127_1

UGX 15,000

Mar. 17, 2023

Mar. 17, 2024

9.80%

AAA

INR Global Notes_1128_1

INR 150

Apr. 27, 2023

Apr. 28, 2027-

AAA

MXN Global Notes_1129_1

MXN 20

May 9, 2023

May 9, 2025

9.01%

AAA

Callable USD Global
Notes_1130_1

USD 25

Apr. 25, 2023

Apr. 25, 2028

4.375%AAA

Callable USD Global
Notes_1131_1

USD 50

Apr. 24, 2023

Apr. 24, 2026

4.70%

AAA

INR Global Notes_1132_1

INR 110

May 30, 2023

May 28, 2027-AAA

INR Global Notes_1133_1

INR 166

Jun. 15, 2023

Jun. 16, 2028

5.61%

AAA

Callable USD Global
Notes_1134_1

USD 50

May 23, 2023

May 23, 2043-

AAA

Callable USD Global
Notes_1135_1

USD 50

May 19, 2023

May 19, 2026

4.79%

AAA

2 / 14
Copyright © Japan Credit Rating Agency, Ltd. All Rights Reserved.

IssuesAmount (mn)Issue Date

Due Date

CouponRating

HKD Global Notes_1136_1

HKD 100

May 19, 2023

May 19, 2024

3.76%

AAA

INR Global Notes_1137_1

INR 310Jun. 29, 2023

Jun. 30, 2027-

AAA

ZAR Global Notes_1138_1

ZAR 200

Jun. 5, 2023

Jun. 5, 2024

9.22%

AAA

Callable USD Global
Notes_1139_1

USD 25

Jun. 16, 2023

Jun. 16, 2028

4.70%

AAA

CHF Global Notes_1140_1

CHF 100

Jul. 5, 2023

Jul. 5, 2028

1.6025%AAA

TZS Global Notes_1141_2

TZS 70,000

Jul. 3, 2023

Jun. 21, 2024

6.00%

AAA

CNY Global Notes_1142_1

CNY 630

Jun. 21, 2023

Jun. 10, 2024

3.45%

AAA

JPY Variable Redemption
Callable FX Linked Global
Notes_1143_1

JPY 200

Jul. 6, 2023

Jul. 6, 2038

(Note 2)AAA

ZMW Global Notes_1144_1

ZMW 200

Jun. 29, 2023

Jun. 29, 2025

11.00%AAA

NGN Global Notes_1145_1

NGN 10,000

Jul. 3, 2023

Jul. 3, 2024

10.00%

AAA

Index Linked Interest Callable
JPY/AUD Dual Currency
Global Notes_1146_1

JPY 150

Jul. 18, 2023

Jul. 18, 2043

(Note 3)AAA

MXN Global Notes_1147_1

MXN 48Aug. 30, 2023

Aug. 31, 2027-

AAA

GBP Social Global
Notes_1148_1

GBP 300

Jul. 27, 2023

Aug. 13, 2025

5.50%

AAA

USD Global Notes_1149_1

USD 6

Aug. 9, 2023

Aug. 9, 2024

5.05%

AAA

Callable USD Global
Notes_1150_1

USD 50Aug. 22, 2023

Aug. 22, 2043-

AAA

USD Global Notes_1151_1

USD 50Aug. 25, 2023

Aug. 25, 2028

4.50%

AAA

CNY Global Notes_1152_1

CNY 1,000

Sep. 15, 2023

Jan. 4, 2027

2.46%

AAA

CNY Global Notes_1153_1

CNY 300

Sep. 8, 2023

Sep. 8, 2025

2.61%

AAA

BWP Global Notes_1154_1

BWP 70Sep. 8, 2023

Sep. 8, 2024

5.65%

AAA

USD Global Notes_1155_1
USD 25
Sep. 14, 2023
(Note 1, 2, 3) Interest is determined by the specified formula.

Sep. 14, 2028

4.49%

AAA

<Affirmation>
Long-term Issuer Rating

RatingOutlookAAA

StableIssuesAmount (mn)Issue Date

Due Date

CouponRatingZero Coupon TRY Global
Notes_814_6

TRY 775

Apr. 14, 2020

Oct. 18, 2023-

AAA

Zero Coupon MXN Global
Notes_805_1

MXN 32

Oct. 18, 2018

Oct. 19, 2023-

AAA

Zero Coupon ZAR Global
Notes_586_1

ZAR 600

Oct. 27, 2016

Oct. 27, 2023-

AAA

INR Global Notes_808_1

INR 310

Oct. 29, 2018

Oct. 30, 2023

6.01%

AAA

USD Global Notes_1032_1

USD 3

Nov. 22, 2021

Nov. 22, 2023

8.30%

AAA

AUD Global Notes_823_1

AUD 26.275

Nov. 27, 2018

Nov. 27, 2023

2.30%

AAA

USD Global Notes_828_1

USD 7.935

Dec. 19, 2018

Dec. 19, 2023

2.46%

AAA

INR Global Notes_923_1

INR 320

Dec. 23, 2019

Dec. 22, 2023

5.18%

AAA

TRY Global Notes_916_1

TRY 10Jan. 14, 2020

Jan. 12, 2024

9.21%

AAA

EUR Global Notes_610_2

EUR 1,150

Feb. 27, 2017

Jan. 24, 2024

0.25%

AAA

IDR Global Notes_931_1

IDR 19,500

Jan. 30, 2020

Jan. 31, 2024

4.56%

AAA

AUD Global Notes_835_1

AUD 10.562

Feb. 28, 2019Feb. 28, 2024

1.80%

AAA

USD Global Notes_836_1

USD 5.859

Feb. 28, 2019Feb. 28, 2024

2.16%

AAA

3 / 14
Copyright © Japan Credit Rating Agency, Ltd. All Rights Reserved.

IssuesAmount (mn)Issue Date

Due Date

CouponRatingIDR Global Notes_943_1

IDR 19,000

Feb. 27, 2020Feb. 28, 2024

4.35%

AAA

Zero Coupon BRL Global
Notes_1037_1

BRL 50Feb. 25, 2022

Mar. 05, 2024-AAA

AUD Global Notes_469_15

AUD 795

Mar. 21, 2022

Mar. 06, 2024

4.75%

AAA

BRL Global Notes_838_1

BRL 5

Mar. 20, 2019

Mar. 22, 2024

6.51%

AAA

BRL Global Notes_479_1

BRL 4

Mar. 25, 2014

Mar. 26, 2024

3.00%

AAA

USD Global Notes_990_1

USD 50Mar. 26, 2021

Mar. 26, 2024

0.37%

AAA

NZD Global Notes_845_1

NZD 2

Mar. 28, 2019

Mar. 28, 2024

2.11%

AAA

SEK Global Notes_858_2

SEK 2,000

Nov. 04, 2019

Apr. 11, 2024

0.375%AAA

AUD Global Notes_849_1

AUD 2.321

Apr. 17, 2019

Apr. 17, 2024

1.52%

AAA

USD Global Notes_850_1

USD 3.105

Apr. 17, 2019

Apr. 17, 2024

1.94%

AAA

IDR Global Notes_954_1

IDR 17,000

Apr. 27, 2020

Apr. 30, 2024

4.92%

AAA

BRL Global Notes_856_1

BRL 5

May 16, 2019

May 17, 2024

6.31%

AAA

Zero Coupon INR Global
Notes_658_12

INR 2,200

Feb. 18, 2020

May 17, 2024-

AAA

Zero Coupon BRL Global
Notes_523_1

BRL 50

May 19, 2015

May 20, 2024-

AAA

ZAR Global Notes_870_3

ZAR 230

Aug. 11, 2020

Jun. 03, 2024

6.57%

AAA

Zero Coupon TRY Global
Notes_873_1

TRY 50Jun. 10, 2019

Jun. 10, 2024-AAA

IDR Global Notes_960_1

IDR 22,000

Jun. 29, 2020

Jun. 28, 2024

4.75%

AAA

IDR Global Notes_968_1

IDR 20,000

Jul. 29, 2020

Jul. 30, 2024

4.75%

AAA

Zero Coupon TRY Global
Notes_884_2

TRY 40Nov. 13, 2019

Aug. 28, 2024-AAA

USD Global Notes_890_1

USD 7.5

Sep. 06, 2019

Sep. 06, 2024

5.00%

AAA

TRY Global Notes_885_1

TRY 7.5

Sep. 19, 2019

Sep. 20, 2024

11.07%AAA

Zero Coupon TRY Global
Notes_886_1

TRY 13.5

Sep. 19, 2019

Sep. 20, 2024-AAA

IDR Global Notes_969_1

IDR 28,000

Sep. 29, 2020

Sep. 30, 2024

4.75%

AAA

ZAR Global Notes_907_2

ZAR 750

Dec. 18, 2019

Oct. 17, 2024

6.50%

AAA

TRY Global Notes_896_1

TRY 7.5

Oct. 24, 2019

Oct. 25, 2024

12.15%AAA

Zero Coupon TRY Global
Notes_897_1

TRY 13.5

Oct. 24, 2019

Oct. 25, 2024-

AAA

Zero Coupon INR Global
Notes_906_1

INR 500

Nov. 07, 2019Nov. 07, 2024-AAA

INR Global Notes_909_1

INR 500

Nov. 14, 2019Nov. 14, 2024

4.00%

AAA

EUR Global Notes_718_1

EUR 500

Nov. 21, 2017

Nov. 21, 2024

0.25%

AAA

GBP Global Notes_1026_1

GBP 500

Nov. 02, 2021

Dec. 16, 2024

0.88%

AAA

Zero Coupon TRY Global
Notes_509_1

TRY 50Feb. 13, 2015

Feb. 13, 2025-AAA

BRL Global Notes_950_1

BRL 125

Mar. 04, 2020

Mar. 04, 2025

4.75%

AAA

INR Global Notes_1039_1

INR 439.3

Mar. 22, 2022

Mar. 21, 2025

5.14%

AAA

ZAR Global Notes_986_1

ZAR 75Mar. 23, 2021

Mar. 24, 2025

5.00%

AAA

Fixed/Capped Index Linked
Rate Global JPY Notes_520_1

JPY 500

Apr. 09, 2015

Apr. 10, 2025-AAA

USD Floating Interest Rate
Global Notes_755_1

USD 50

Apr. 17, 2018

Apr. 17, 2025

FloatingAAA

TRY Global Notes_955_1

TRY 58Apr. 27, 2020

Apr. 28, 2025

10.08%AAA

TRY Global Notes_957_1

TRY 12

May 20, 2020

May 21, 2025

10.70%

AAA

4 / 14
Copyright © Japan Credit Rating Agency, Ltd. All Rights Reserved.

IssuesAmount (mn)Issue Date

Due Date

CouponRating

GBP Global Notes_1033_1

GBP 600

Jan. 19, 2022

Jun. 18, 2025

1.125%AAA

USD Global Notes_534_1

USD 20Jul. 24, 2015

Jul. 24, 2025

2.52%

AAA

USD Global Notes_970_1

USD 5

Sep. 15, 2020

Sep. 15, 2025

4.00%

AAA

USD Global Notes_1022_1

USD 50Oct. 08, 2021

Nov. 01, 2025

0.86%

AAA

Zero Coupon TRY Global
Notes_716_4

TRY 80Mar. 01, 2018

Nov. 07, 2025-

AAA

ZAR Global Notes_1030_1

ZAR 40Nov. 16, 2021

Nov. 17, 2025

5.10%

AAA

IDR Global Notes_971_1

IDR 21,000

Nov. 27, 2020

Nov. 28, 2025

4.10%

AAA

Zero Coupon INR Global
Notes_1025_1

INR 115

Nov. 29, 2021

Nov. 28, 2025-AAA

USD Global Notes_988_1

USD 2,500

Mar. 23, 2021

Mar. 23, 2026

0.875%AAA

IDR Global Notes_981_1

IDR 20,000

Mar. 25, 2021

Mar. 26, 2026

3.62%

AAA

Zero Coupon INR Global
Notes_1040_1

INR 100

Mar. 30, 2022

Mar. 30, 2026-

AAA

Zero Coupon BRL Global
Notes_557_1

BRL 200

Apr. 01, 2016

Apr. 01, 2026-AAA

INR Global Notes_1045_1

INR 75

Apr. 06, 2022

Apr. 07, 2026

5.22%

AAA

SEK Global Notes_992_1

SEK 1,000

Apr. 22, 2021

Apr. 22, 2026

0.25%

AAA

NOK Global Notes_993_1

NOK 1,000

Apr. 22, 2021

Apr. 22, 2026

1.303%AAA

IDR Global Notes_989_1

IDR 14,500

Apr. 27, 2021

Apr. 28, 2026

4.21%

AAA

AUD Global Notes_995_1

AUD 5

May 26, 2021

May 26, 2026

0.80%

AAA

IDR Global Notes_994_1

IDR 15,000

May 27, 2021

May 28, 2026

4.10%

AAA

AUD Global Notes_489_10

AUD 430

Aug. 24, 2021

Jun. 02, 2026

4.50%

AAA

GBP Global Notes_999_2

GBP 700

Aug. 23, 2021

Jun. 22, 2026

0.50%

AAA

IDR Global Notes_996_1

IDR 15,000

Jun. 29, 2021

Jun. 30, 2026

4.10%

AAA

USD Global Notes_1005_1

USD 2,750

Jul. 22, 2021

Jul. 22, 2026

0.875%AAA

Callable Fixed/Capped Index
Linked Rate JPY/USD Dual
Currency Global JPY
Notes_582_1

JPY 100

Oct. 14, 2016

Aug. 01, 2026-AAA

AUD Global Notes_398_1

AUD 45

Aug. 10, 2011

Aug. 10, 2026

5.64%

AAA

IDR Global Notes_1001_1

IDR 20,000

Aug. 26, 2021

Aug. 27, 2026

4.03%

AAA

SEK Global Notes_1017_1

SEK 2,000

Sep. 17, 2021

Sep. 17, 2026

0.305%AAA

Zero Coupon TRY Global
Notes_887_1

TRY 28.75

Sep. 27, 2019

Sep. 30, 2026-

AAA

EUR Global Notes_583_1

EUR 750

Oct. 07, 2016

Oct. 07, 2026

0.125%AAA

Zero Coupon ZAR Global
Notes_899_1

ZAR 76.5

Oct. 30, 2019

Oct. 30, 2026-AAA

USD Global Notes_1020_1

USD 75

Nov. 02, 2021

Nov. 02, 2026

1.06%

AAA

USD Global Notes_589_1

USD 50Nov. 04, 2016

Nov. 04, 2026

1.82%

AAA

MXN Global Notes_1018_1

MXN 91

Oct. 28, 2021

Nov. 10, 2026

5.72%

AAA

Zero Coupon ZAR Global
Notes_910_1

ZAR 78

Nov. 27, 2019Nov. 27, 2026-AAA

IDR Global Notes_1019_1

IDR 35,000

Nov. 29, 2021

Nov. 30, 2026

4.06%

AAA

USD Global Notes_600_1

USD 100

Dec. 14, 2016

Dec. 14, 2026

2.495%AAA

USD Global Notes_1031_1

USD 140

Dec. 15, 2021

Dec. 15, 2026

1.20%

AAA

AUD Global Notes_998_1

AUD 600

Jun. 16, 2021

Dec. 16, 2026

1.10%

AAA

Zero Coupon ZAR Global
Notes_914_1

ZAR 79Dec. 23, 2019

Dec. 24, 2026-

AAA

5 / 14
Copyright © Japan Credit Rating Agency, Ltd. All Rights Reserved.

IssuesAmount (mn)Issue Date

Due Date

CouponRatingCallable Forex Linked Rate
Global JPY Notes_167_1

JPY 1,000

Jan. 15, 2002

Jan. 15, 2027-

AAA

Zero Coupon ZAR Global
Notes_938_2

ZAR 230

Aug. 11, 2020

Jan. 21, 2027-

AAA

Zero Coupon ZAR Global
Notes_928_1

ZAR 77Jan. 30, 2020

Jan. 29, 2027-

AAA

Zero Coupon RUB Global
Notes_620_1

RUB 1,500

Feb. 10, 2017

Feb. 01, 2027-

AAA

Callable EUR Global
Notes_1044_1

EUR 50Mar. 04, 2022

Feb. 01, 2027

0.57%

AAA

Reverse Dual Currency
JPY/USD Global JPY
Notes_169_1

JPY 3,000

Feb. 05, 2002

Feb. 05, 2027

2.70%

AAA

Reverse Dual Currency Global
JPY/AUD Notes_171_1

JPY 3,600

Feb. 05, 2002

Feb. 05, 2027

2.75%

AAA

SEK Global Notes_1035_2

SEK 1,500

Mar. 15, 2022

Feb. 10, 2027

0.823%AAA

Zero Coupon ZAR Global
Notes_941_1

ZAR 74.5

Feb. 27, 2020Feb. 26, 2027-AAA

EUR Global Notes_1049_1

EUR 1,250

Mar. 22, 2022

Mar. 22, 2027

0.50%

AAA

Zero Coupon ZAR Global
Notes_949_1

ZAR 77Mar. 30, 2020

Mar. 30, 2027-

AAA

ZAR Global Notes_1023_1

ZAR 300

Oct. 13, 2021

Apr. 13, 2027

6.20%

AAA

Zero Coupon TRY Global
Notes_953_1

TRY 21.4

Apr. 28, 2020

Apr. 30, 2027-

AAA

Zero Coupon TRY Global
Notes_965_1

TRY 16.4

Jun. 29, 2020

Jun. 30, 2027-

AAA

Callable Forex Linked Capped
Global JPY Notes_311_1

JPY 100

Jul. 12, 2007

Jul. 13, 2027

Floating

AAA

Zero Coupon ZAR Global
Notes_532_1

ZAR 200

Jul. 21, 2015

Jul. 21, 2027-

AAA

Euro Yen Forex Linked Rate
Notes_128_1

JPY 2,700

Jul. 23, 2001

Jul. 23, 2027

Floating

AAA

Discounted Fixed Rate TRY
Global Notes_428_1

TRY 15

Jul. 26, 2012

Jul. 27, 2027

0.50%

AAA

AUD Global Notes_609_16

AUD 565

Jan. 12, 2018

Jul. 27, 2027

3.30%

AAA

Callable USD Global
Notes_684_1

USD 10Aug. 17, 2017

Aug. 17, 2027

2.52%

AAA

Zero Coupon TRY Global
Notes_685_2

TRY 100

Sep. 22, 2017

Aug. 23, 2027-AAA

SEK Global Notes_693_3

SEK 1,373

Sep. 11, 2018

Sep. 21, 2027

1.245%AAA

AUD Global Notes_697_3

AUD 110

Nov. 14, 2017

Sep. 27, 2027

3.345%AAA

AUD Global Notes_704_1

AUD 10Oct. 19, 2017

Oct. 19, 2027

3.20%

AAA

SEK Global Notes_723_2

SEK 450

Feb. 28, 2018

Jan. 18, 2028

1.4075%AAA

HKD Global Notes_979_1

HKD 120

Feb. 08, 2021

Feb. 08, 2028

0.815%AAA

ZAR Global Notes_982_1

ZAR 435

Feb. 24, 2021

Feb. 24, 2028

6.52%

AAA

AUD Global Notes_766_1

AUD 60

May 15, 2018

May 15, 2028

3.21%

AAA

Callable Forex Linked Rate
Global JPY Notes_230_1

JPY 600

May 22, 2003

May 22, 2028

FloatingAAA

EUR Global Notes_769_1

EUR 1,250

May 24, 2018

May 24, 2028

0.875%AAA

CAD Global Notes_770_1

CAD 60

May 30, 2018

May 30, 2028

2.89%

AAA

6 / 14
Copyright © Japan Credit Rating Agency, Ltd. All Rights Reserved.

IssuesAmount (mn)Issue Date

Due Date

CouponRatingCallable FX Linked Interest
Rate/FX Linked Redemption
JPY Global Notes_792_1

JPY 200

Aug. 13, 2018

Aug. 01, 2028

FloatingAAA

AUD Global Notes_727_6

AUD 625

Mar. 25, 2021

Aug. 08, 2028

3.35%

AAA

AUD Global Notes_797_1

AUD 10Aug. 28, 2018

Aug. 28, 2028

3.03%

AAA

Zero Coupon BRL Global
Notes_1007_1

BRL 72

Aug. 26, 2021

Aug. 29, 2028-

AAA

Zero Coupon TRY Global
Notes_813_5

TRY 1,500

Sep. 24, 2019

Oct. 11, 2028-

AAA

Zero Coupon RUB Global
Notes_1041_1

RUB 2,500

Mar. 02, 2022

Mar. 02, 2029-

AAA

NZD Global Notes_844_1

NZD 150

Mar. 07, 2019

Mar. 07, 2029

2.85%

AAA

EUR Global Notes_852_1

EUR 1,000

Mar. 21, 2019

Mar. 21, 2029

0.50%

AAA

SEK Global Notes_855_1

SEK 400

Apr. 12, 2019

Apr. 12, 2029

0.9275%AAA

USD Global Notes_869_1

USD 2

May 31, 2019

May 31, 2029

2.26%

AAA

Zero Coupon RUB Global
Notes_881_1

RUB 1,100

Aug. 29, 2019

Aug. 30, 2029-

AAA

Zero Coupon TRY Global
Notes_877_1

TRY 48Sep. 03, 2019

Sep. 04, 2029-

AAA

Zero Coupon BRL Global
Notes_533_3

BRL 330

Oct. 28, 2015

Jul. 22, 2030-

AAA

HKD Global Notes_987_1

HKD 570

Mar. 24, 2021

Mar. 24, 2031

1.666%AAA

AUD Global Notes_1021_1

AUD 50Oct. 08, 2021

Jun. 20, 2031

1.78%

AAA

Zero Coupon ZAR Global
Notes_565_1

ZAR 1,000

Jul. 14, 2016

Aug. 01, 2031-

AAA

NZD Global Notes_1009_1

NZD 26

Sep. 02, 2021

Sep. 02, 2031

2.293%AAANZD Global Notes_1010_1

NZD 26

Sep. 02, 2021

Sep. 02, 2031

2.293%AAANZD Global Notes_1011_1

NZD 26

Sep. 02, 2021

Sep. 02, 2031

2.293%AAANZD Global Notes_1012_1

NZD 26

Sep. 02, 2021

Sep. 02, 2031

2.293%AAANZD Global Notes_1013_1

NZD 26

Sep. 02, 2021

Sep. 02, 2031

2.293%AAA

Zero Coupon ZAR Global
Notes_578_1

ZAR 1,000

Sep. 15, 2016

Sep. 15, 2031-

AAA

AUD Global Notes_1024_1

AUD 40Oct. 27, 2021

Oct. 27, 2031

1.95%

AAA

AUD Global Notes_598_3

AUD 140

Oct. 07, 2021

Dec. 15, 2031

3.50%

AAA

Callable Forex Linked Rate
Global JPY Notes_182

JPY 500

Apr. 15, 2002

Feb. 02, 2032

Floating

AAA

Zero Coupon MXN Global
Notes_617_11

MXN 8,250

Mar. 06, 2019Feb. 09, 2032-

AAA

Callable Forex Linked Rate
Global JPY Notes_179_1

JPY 900

Mar. 26, 2002

Mar. 17, 2032-

AAA

AUD Global Notes_1047_1

AUD 60Mar. 08, 2022

Mar. 22, 2032

2.80%

AAA

Discounted Fixed Rate MXN
Global Notes_432_1

MXN 400

Sep. 06, 2012

Sep. 07, 2032

0.50%

AAA

Callable Forex Linked Rate
Global JPY Notes_219_1

JPY 1,000

Feb. 06, 2003

Feb. 01, 2033

Floating

AAA

Callable Forex Linked Rate
Global JPY Notes_225_1

JPY 1,300

Mar. 27, 2003

Feb. 01, 2033

Floating

AAA

Callable Forex Linked Rate
Global JPY Notes_241_1

JPY 500

Jul. 14, 2003

Mar. 14, 2033

Floating

AAA

Callable Forex Linked Rate
Global JPY Notes_237_1

JPY 1,000

Jul. 01, 2003

Mar. 25, 2033

Floating

AAA

7 / 14
Copyright © Japan Credit Rating Agency, Ltd. All Rights Reserved.

IssuesAmount (mn)Issue Date

Due Date

CouponRatingCallable Forex Linked Rate
Global JPY Notes_226_1

JPY 3,000

Apr. 03, 2003

Apr. 03, 2033

Floating

AAA

Callable Forex Linked Rate
Global JPY Notes_228_1

JPY 1,000

May 07, 2003

May 07, 2033

Floating

AAA

Callable Forex Linked Rate
Global JPY Notes_233_1

JPY 2,100

Jun. 03, 2003

Jun. 03, 2033

Floating

AAA

Forex Linked Rate Global JPY
Notes_236_1

JPY 1,000

Jun. 23, 2003

Jun. 23, 2033

Floating

AAA

Callable Forex Linked Rate
Global JPY Notes_235_1

JPY 700

Jun. 26, 2003

Jun. 27, 2033

Floating

AAA

Callable Forex Linked Rate
Global JPY Notes(A)_238

JPY 1,200

Jul. 07, 2003

Jul. 07, 2033

Floating

AAA

Callable Forex Linked Rate
Global JPY Notes(B)_239

JPY 1,200

Jul. 07, 2003

Jul. 07, 2033

Floating

AAA

Callable Forex Linked Rate
Global JPY Notes_240_1

JPY 1,000

Jul. 14, 2003

Jul. 15, 2033

Floating

AAA

Callable Forex Linked Rate
Global JPY Notes_243_1

JPY 500

Jul. 17, 2003

Jul. 15, 2033

FloatingAAA

AUD Global Notes_728_1

AUD 50.4

Feb. 09, 2018

Aug. 09, 2033

3.556%AAA

Callable Fixed /Index Linked
Rate JPY/AUD Dual Currency
Global Notes_490_1

JPY 100

Jun. 18, 2014

Feb. 01, 2034-

AAA

Callable FX Linked Rate
Global JPY Notes_839_1

JPY 300

Feb. 27, 2019Feb. 01, 2034

Floating

AAA

Callable FX Linked Interest
Rate/FX Linked Redemption
JPY Global Notes_842_1

JPY 100

Mar. 13, 2019

Mar. 13, 2034

Floating

AAA

Callable Fixed/Index Linked
Rate Global JPY Notes_497_1

JPY 1,400

Aug. 01, 2014

Aug. 01, 2034-

AAA

Callable Fixed/Capped Index
Linked Rate JPY/AUD Dual
Currency Global JPY
Notes_510_1

JPY 600

Mar. 05, 2015

Feb. 01, 2035-

AAA

Callable Fixed/Capped Index
Linked Rate JPY/USD Dual
Currency Global JPY
Notes_977_1

JPY 1,000

Feb. 16, 2021

Feb. 01, 2036-

AAA

Callable Zero Coupon EUR
Global Notes_554_1

EUR 26

Mar. 10, 2016

Mar. 10, 2036-

AAA

Callable Forex Linked Rate
Global JPY Notes_287_1

JPY 300

Jun. 27, 2006

Mar. 27, 2036

5.50%

AAA

Callable Zero Coupon EUR
Global Notes_564_1

EUR 26

Jun. 30, 2016

Jun. 30, 2036-

AAA

Callable Zero Coupon EUR
Global Notes_566_1

EUR 25

Jul. 14, 2016

Jul. 14, 2036-

AAA

Callable Zero Coupon EUR
Global Notes_567_1

EUR 25

Aug. 01, 2016

Aug. 01, 2036-

AAA

Zero Coupon ZAR Global
Notes_577_6

ZAR 2,300

Nov. 01, 2021

Sep. 09, 2036-

AAA

Callable Fixed/Capped FX
Linked Rate JPY/USD Dual
Currency Global Notes_597_1

JPY 100

Dec. 21, 2016

Dec. 22, 2036-

AAA

Callable Fixed/Index Linked
Rate JPY/USD Dual Currency
Global Notes_625_1

JPY 500

Mar. 21, 2017

Feb. 01, 2037-

AAA

8 / 14
Copyright © Japan Credit Rating Agency, Ltd. All Rights Reserved.

IssuesAmount (mn)Issue Date

Due Date

CouponRatingCallable Fixed/Index Linked
Global JPY Notes_627_1

JPY 300

Mar. 27, 2017

Feb. 01, 2037-

AAA

Callable Fixed/FX Linked
Global JPY Notes_679_1

JPY 100

Jul. 27, 2017

Feb. 01, 2037-

AAA

Callable EUR Global
Notes_1046_1

EUR 70Mar. 09, 2022

Feb. 01, 2037

1.19%

AAA

Callable FX Linked JPY Global
Notes_738_1

JPY 100

Mar. 12, 2018

Feb. 01, 2038-

AAA

Callable Fixed/Index Linked
Interest Rate JPY/USD Dual
Currency JPY Global
Notes_752_1

JPY 140

Apr. 12, 2018

Feb. 01, 2038-

AAA

Fixed Rate/Powered-Reverse
JPY Global Notes_736

JPY 100

Mar. 14, 2018

Mar. 15, 2038-AAA

SEK Global Notes_761_1

SEK 150

Apr. 30, 2018

Apr. 30, 2038

1.94%

AAA

Callable FX Linked Interest
Rate/FX Linked Redemption
JPY Global Notes_785_1

JPY 500

Aug. 02, 2018

Aug. 02, 2038

FloatingAAA

AUD Global Notes_1000_2

AUD 40Aug. 31, 2021

Jun. 25, 2040

2.33%

AAA

Zero Coupon BRL Global
Notes_1038_2

BRL 1,025

Apr. 11, 2022

Feb. 24, 2042-

AAA

Callable Fixed to Capped FXLinked Interest Rate Global
JPY Notes_422_1

JPY 100

Apr. 10, 2012

Mar. 28, 2042-

AAA

Callable Fixed/FX Linked
Interest Rate JPY/USD Dual
Currency JPY Global
Notes_743_1

JPY 300

Apr. 09, 2018

Jan. 30, 2043-

AAA

Capped Callable Fixed/Index
Linked Rate Global JPY
Notes_483_1

JPY 500

Apr. 15, 2014

Feb. 01, 2044-

AAA

Capped Callable Fixed/Index
Linked Rate Global JPY
Notes_484_1

JPY 300

Apr. 23, 2014

Feb. 01, 2044-

AAA

Capped Callable Fixed/Index
Linked Rate Global JPY
Notes_485_1

JPY 200

Apr. 23, 2014

Feb. 01, 2044-

AAA

Callable Variable Interest
Rate/Variable Redemption
Global JPY Notes_874_1

JPY 500

Jul. 01, 2019Feb. 01, 2044

Floating

AAA

Callable Fixed/Index Linked
Rate Global JPY Notes_500_1

JPY 100

Sep. 26, 2014

Aug. 01, 2044-

AAA

Callable Fixed/Index Linked
Rate Global JPY Notes_502_1

JPY 100

Oct. 10, 2014

Aug. 01, 2044-

AAA

Callable Fixed/Index Linked
Rate Global JPY Notes_503_1

JPY 200

Oct. 24, 2014

Aug. 01, 2044-

AAA

Callable Fixed/Capped Index
Linked Rate Global JPY
Notes_512_1

JPY 200

Mar. 12, 2015

Feb. 01, 2045-

AAA

Callable Fixed/Capped Index
Linked Rate Global JPY
Notes_518_1

JPY 100

Apr. 15, 2015

Feb. 01, 2045-

AAA

Callable Fixed/Index Linked
Rate Global JPY Notes_519_1

JPY 100

Apr. 15, 2015

Feb. 01, 2045-

AAA

9 / 14
Copyright © Japan Credit Rating Agency, Ltd. All Rights Reserved.

IssuesAmount (mn)Issue Date

Due Date

CouponRatingCallable Fixed/Capped Index
Linked Rate JPY/USD Dual
Currency Global Notes_514_1

JPY 100

Mar. 26, 2015

Mar. 27, 2045-

AAA

Callable Fixed/Capped Index
Linked Rate Global JPY
Notes_517_1

JPY 500

Apr. 13, 2015

Apr. 14, 2045-

AAA

Callable Fixed/Capped Index
Linked Rate JPY/USD Dual
Currency Global JPY
Notes_521_1

JPY 100

Apr. 27, 2015

Apr. 27, 2045-

AAA

Callable Fixed/Capped Index
Linked Rate JPY/USD Dual
Currency Global JPY
Notes_527_1

JPY 100

May. 28, 2015

May. 26, 2045-

AAA

Callable Fixed/Capped Index
Linked Rate Global JPY
Notes_529_1

JPY 100

Jun. 18, 2015

Jun. 19, 2045-

AAA

Callable Fixed/Capped Index
Linked Rate Global JPY
Notes_530_1

JPY 100

Jun. 25, 2015

Jun. 26, 2045-

AAA

Callable Fixed/Index Linked
Rate Global JPY Notes_545_1

JPY 100

Feb. 01, 2016

Aug. 01, 2045-

AAA

Callable Fixed/Capped Index
Linked Rate JPY/USD Dual
Currency Global JPY
Notes_535_1

JPY 200

Sep. 14, 2015

Sep. 15, 2045-

AAA

Callable Fixed/Capped Index
Linked Rate JPY/USD Dual
Currency Global JPY
Notes_536_1

JPY 100

Sep. 14, 2015

Sep. 15, 2045-

AAA

Callable Index Linked Rate
Global JPY Notes_537_1

JPY 100

Sep. 28, 2015

Sep. 29, 2045

Floating

AAA

Callable Index Linked Rate
Global JPY Notes_543_1

JPY 100

Dec. 21, 2015

Dec. 22, 2045

Floating

AAA

Callable Fixed/Capped Index
Linked Rate Global JPY
Notes_555_1

JPY 100

Apr. 19, 2016

Feb. 01, 2046-

AAA

Callable Capped Fixed/Index
Linked Rate JPY/USD Dual
Currency Global JPY
Notes_550_1

JPY 100

Feb. 22, 2016

Feb. 23, 2046-

AAA

Callable Zero Coupon USD
Global Notes_569_1

USD 20Aug. 01, 2016

Aug. 01, 2046-

AAA

Callable Capped Index Linked
Rate JPY/USD Dual Currency
Global JPY Notes_571_1

JPY 500

Aug. 17, 2016

Aug. 01, 2046

Floating

AAA

Callable Capped Index Linked
Rate Global JPY Notes_572_1

JPY 100

Aug. 16, 2016

Aug. 17, 2046

Floating

AAA

Callable Capped Fixed/Index
Linked Rate JPY/USD Dual
Currency Global JPY
Notes_573_1

JPY 500

Aug. 24, 2016

Aug. 24, 2046-

AAA

Callable Fixed/Capped Index
Linked Rate JPY/USD Dual
Currency Global JPY
Notes_585_1

JPY 200

Nov. 08, 2016

Nov. 08, 2046-

AAA

10 / 14
Copyright © Japan Credit Rating Agency, Ltd. All Rights Reserved.

IssuesAmount (mn)Issue Date

Due Date

CouponRatingCallable Zero Coupon USD
Global Notes_592_1

USD 50Nov. 16, 2016

Nov. 16, 2046-

AAA

Callable Zero Coupon USD
Global Notes_594_1

USD 50Nov. 18, 2016

Nov. 18, 2046-

AAA

Callable Fixed/Capped FX
Linked Rate JPY/USD Dual
Currency Global Notes_595_1

JPY 500

Dec. 14, 2016

Dec. 14, 2046-

AAA

Callable Fixed/Capped FX
Linked Rate JPY/USD Dual
Currency Global Notes_603_1

JPY 410Jan. 19, 2017

Feb. 01, 2047-

AAA

Callable Fixed/Capped FX
Linked Rate JPY/USD Dual
Currency Global Notes_608_1

JPY 1,000

Feb. 01, 2017

Feb. 01, 2047-

AAA

Callable Fixed/Index Linked
Global JPY Notes_640_1

JPY 100

Apr. 05, 2017

Feb. 01, 2047-

AAA

Callable Fixed/Index Linked
Global JPY Notes_648_1

JPY 200

Apr. 26, 2017

Feb. 01, 2047-

AAA

Fixed/Index Linked Global JPY
Notes_664_1

JPY 200

Jun. 19, 2017

Feb. 01, 2047-

AAA

Callable Fixed/Capped Index
Linked Rate JPY/AUD Dual
Currency Global Notes_673_1

JPY 200

Jul. 18, 2017

Feb. 01, 2047-

AAA

ZAR Discount Global
Notes_645_1

ZAR 170

Apr. 05, 2017

Apr. 05, 2047

0.30%

AAA

Callable Fixed/Index Linked
Rate JPY/USD Dual Currency
Global Notes_647_1

JPY 500

Apr. 25, 2017

Apr. 26, 2047-

AAA

Callable Zero Coupon USD
Global Notes_652_1

USD 30

Apr. 26, 2017

Apr. 26, 2047-

AAA

Callable Fixed/Capped FX
Linked Interest Rate JPY/USD
Dual Currency Global
Notes_678_1

JPY 300

Aug. 01, 2017

Aug. 01, 2047-

AAA

Callable Capped Index linked
JPY/USD Dual Currency
Global Notes_705_1

JPY 300

Nov. 01, 2017

Aug. 01, 2047-

AAA

Callable Variable Interest
Rate/Variable Redemption
Global JPY Notes_713_1

JPY 500

Nov. 13, 2017

Aug. 01, 2047

Floating

AAA

Callable Fixed/FX Linked
Global JPY Notes_696_1

JPY 300

Oct. 03, 2017

Oct. 03, 2047-

AAA

Callable EUR Global
Notes_712_1

EUR 25Oct. 30, 2017

Oct. 30, 2047

1.87%

AAA

Callable Fixed/Capped FX
Linked Rate Global JPY
Notes_715_1

JPY 300

Nov. 20, 2017

Nov. 20, 2047-

AAA

Callable Fixed Rate/Index
Linked Rate Global JPY
Note_714

JPY 300

Nov. 20, 2017

Nov. 21, 2047-

AAA

Callable Fixed/FX Linked
Interest Rate JPY/USD Dual
Currency JPY Global
Notes_775_1

JPY 200

Jul. 09, 2018

Jan. 31, 2048-

AAA

Callable Fixed/Capped FX
Linked Interest Rate JPY/USD
Dual Currency Global
Notes_733_1

JPY 500

Mar. 13, 2018

Mar. 13, 2048-

AAA

11 / 14
Copyright © Japan Credit Rating Agency, Ltd. All Rights Reserved.

IssuesAmount (mn)Issue Date

Due Date

CouponRatingCallable Fixed/Capped FX
Linked Interest Rate JPY/USD
Dual Currency Global
Notes_741_1

JPY 100

Mar. 26, 2018

Mar. 26, 2048-

AAA

Callable Fixed/FX Linked
Interest Rate/FX Linked
Redemption JPY Global
Notes_778_1

JPY 200

Jul. 09, 2018

Jul. 09, 2048-

AAA

Callable Fixed/Capped FX
Linked Interest Rate JPY/USD
Dual Currency JPY Global
Notes_790_1

JPY 100

Aug. 09, 2018

Aug. 10, 2048-

AAA

Callable Fixed/Capped FX
Linked Rate JPY/USD Dual
Currency Global JPY
Notes_803_1

JPY 100

Sep. 27, 2018

Sep. 28, 2048-

AAA

Callable Fixed/Capped FX
Linked Rate JPY/USD Dual
Currency Global JPY
Notes_812_1

JPY 300

Oct. 29, 2018

Oct. 29, 2048-

AAA

Callable Fixed/FX Linked Rate
Global JPY Notes_846_1

JPY 3,500

Mar. 14, 2019Feb. 01, 2049-

AAA

Callable Capped Index FX
Linked Rate JPY/USD Dual
Currency Global Notes_854_1

JPY 800

Mar. 28, 2019

Mar. 29, 2049

Floating

AAA

Callable Fixed/Capped FX
Linked Global JPY
Notes_867_1

JPY 100

Jun. 11, 2019

Jun. 11, 2049-

AAA

Callable Variable Interest
JPY/USD Dual Currency
Global Notes_903_1

JPY 500

Oct. 17, 2019

Jul. 30, 2049

Floating

AAA

Callable FX Linked JPY Global
Notes_926_1

JPY 300

Dec. 16, 2019

Aug. 01, 2049-

AAA

Callable Fixed/Index Linked
Rate Powered-Reverse Global
JPY Notes_902

JPY 500

Oct. 17, 2019

Oct. 18, 2049

Floating

AAA

Zero Coupon ZAR Global
Notes_934_2

ZAR 3,000

Mar. 17, 2020

Jan. 17, 2050-

AAA

Callable Fixed/Index Linked
Rate Global JPY Notes_952_1

JPY 100

Apr. 06, 2020Feb. 01, 2050-

AAA

Callable EUR Global
Notes_984_1

EUR 35Mar. 04, 2021

Feb. 01, 2051

0.8835%AAA

Callable Fixed/FX Linked JPY
Global Notes_983_1

JPY 100

Mar. 10, 2021

Feb. 01, 2051-

AAA

Callable Fixed to Capped FXLinked Interest Rate Global
JPY Notes_1002_1

JPY 100

Jul. 13, 2021

Jul. 14, 2051-

AAA

Callable Fixed to Capped FXLinked Interest Rate Global
JPY Notes_1004_1

JPY 100

Aug. 05, 2021

Aug. 01, 2051-

AAA

Callable Fixed to Capped FXLinked Interest Rate Global
JPY Notes_1008_1

JPY 100

Aug. 25, 2021

Aug. 01, 2051-

AAA

Zero Coupon ZAR Global
Notes_1016_1

ZAR 3,000

Sep. 16, 2021

Sep. 16, 2051-

AAA

12 / 14
Copyright © Japan Credit Rating Agency, Ltd. All Rights Reserved.

IssuesAmount (mn)Issue Date

Due Date

CouponRatingCallable Fixed/Index Linked
Rate JPY/USD PoweredReverse Dual Currency Global
Notes_1029_1

USD 1

Nov. 16, 2021

Nov. 17, 2051-

AAA

Fixed/Index linked Global JPY
Notes_1043_1

JPY 100

Mar. 17, 2022

Mar. 18, 2052-

AAA

Callable Fixed/ Capped FXLinked Interest Rate Global
JPY Notes_1048_1

JPY 100

Mar. 28, 2022

Mar. 29, 2052-

AAA

Callable EUR Global
Notes_1014_1

EUR 25

Aug. 26, 2021

Aug. 01, 2056

0.96%

AAA

Callable Zero Coupon EUR
Global Notes_671_1

EUR 30Jun. 21, 2017

Jun. 21, 2057-

AAA

Zero Coupon EUR Global
Notes_700_1

EUR 100

Oct. 10, 2017

Oct. 10, 2057-

AAA

Callable EUR Global
Notes_827_1

EUR 10Dec. 20, 2018

Dec. 20, 2058

1.78%

AAA

Callable Zero Coupon USD
Global Notes_991_1

USD 30

Apr. 09, 2021

Feb. 01, 2061-

AAA

CNY Global Notes_974_2

CNY 490

Apr. 25, 2022

Jan. 25, 2024

2.155%AAA

BRL Global Notes_1027_2

BRL 130

Jul. 06, 2022

Nov. 04, 2025

7.50%

AAA

IDR Global Notes_1042_1

IDR 29,000

Apr. 27, 2022

Apr. 28, 2027

4.02%

AAA

Zero Coupon ZAR Global
Notes_1050_1

ZAR 185

Apr. 26, 2022

Apr. 28, 2032-

INR Global Notes_1051_1

INR 80

May 10, 2022

May 11, 2026

5.76%

AAA

ZAR Global Notes_1052_1

ZAR 18May 12, 2022

May 13, 2027

6.50%

AAA

AUD Global Notes_1053_1

AUD 155

Apr. 26, 2022

Oct. 26, 2032

3.545%AAA

BRL Global Notes_1054_1

BRL 6

May 24, 2022

May 25, 2027

9.50%

AAA

USD Step-Up Fixed Rate
Global Notes_1055_1

USD 50

Apr. 28, 2022

Apr. 28, 2027

(Note 1)IDR Global Notes_1056_1

IDR 44,000

Jun. 29, 2022

Jun. 30, 2027

4.80%

AAA

MXN Global Notes_1057_1

MXN 21

May 26, 2022

May 27, 2026

8.37%

AAA

ZAR Global Notes_1058_1

ZAR 30

May 26, 2022

May 27, 2027

6.76%

AAA

Callable EUR Global
Notes_1059_1

EUR 50

May 06, 2022

Feb. 01, 2037

2.04%

Callable EUR Global
Notes_1060_1

EUR 50

May 06, 2022

Feb. 01, 2037

2.17%

Callable EUR Global
Notes_1061_1

EUR 30

May 25, 2022

Feb. 01, 2030

1.94%

USD Global Notes_1062_1

USD 50Jun. 01, 2022

Jun. 01, 2024

2.748%

Callable EUR Global
Notes_1063_1

EUR 5

Jun. 10, 2022

Aug. 01, 2026

1.165%ZAR Global Notes_1064_1

ZAR 30Jul. 05, 2022

Jul. 06, 2027

6.89%

AAA

BRL Global Notes_1065_1

BRL 6

Jul. 07, 2022

Jul. 08, 2026

9.71%

AAA

USD Global Notes_1067_1

USD 100

Jun. 16, 2022

Jun. 14, 2024

2.98%

AAA

Callable FX Linked Global JPY
Notes_1068_1

JPY 600

Jun. 27, 2022

Jun. 20, 2052

(Note 2)UGX Global Notes_1069_1

UGX 19,000

Jun. 22, 2022

Jun. 22, 2024

10.50%AAA

MXN Global Notes_1070_1

MXN 21

Jul. 22, 2022

Jul. 25, 2024

9.30%

AAA

USD Global Notes_1072_1

USD 5

Jun. 28, 2022

Jun. 28, 2024

6.50%

AAA

Callable USD Global
Notes_1073_1

USD 150

Jul. 06, 2022

Jul. 06, 2025

3.50%

13 / 14
Copyright © Japan Credit Rating Agency, Ltd. All Rights Reserved.

AAA

AAA

AAA
AAA
AAA
AAA
AAA

AAA

AAA

IssuesAmount (mn)Issue Date

Due Date

CouponRating

USD Global Notes_1074_1

USD 1,000

Jul. 07, 2022

Jul. 07, 2025

3.375%AAA

MXN Global Notes_1075_1

MXN 200

Jul. 08, 2022

Jul. 08, 2024

10.10%AAA

GBP Global Notes_1078_1

GBP 100

Jul. 26, 2022

Jul. 26, 2025

2.43%

AAA

Zero Coupon ZAR Global
Notes_1084_1

ZAR 196

Sep. 29, 2022

Sep. 30, 2032-

IDR Global Notes_1085_1

IDR 45,100

Oct. 27, 2022

Oct. 28, 2027

5.15%

Zero Coupon MXN Global
Notes_1087_1

MXN 31

Sep. 29, 2022

Sep. 30, 2025

-

AAA
AAA
AAA

Callable Capped FX-Linked
Interest/FX-Linked
Redemption JPY Global
Notes_1089_1

AAA
JPY 150

Sep. 26, 2022

Sep. 27, 2052

(Note 3)

USD Global Notes_1090_1

USD 100

Sep. 14, 2022

Sep. 14, 2029

3.403%AAA

CNY Global Notes_1091_1

CNY 1,000

Sep. 19, 2022

Sep. 19, 2025

2.905%AAA

Social/EUR Global
Notes_1092_1

EUR 1,250

Sep. 14, 2022

Sep. 14, 2029

2.250%USD Global Notes_1093_1

USD 8

Sep. 14, 2022

Sep. 14, 2024

8.50%

Callable USD Global
Notes_1096_1

USD 100

Oct. 20, 2022

Oct. 20, 2025

4.86%

Callable EUR Global
Notes_1097_1

EUR 50Oct. 27, 2022

Feb. 01, 2028

3.505%

Callable EUR Global
Notes_1098_1

EUR 5

Oct. 26, 2022

Feb. 01, 2038

4.05%

USD Global Notes_1100_1

USD 2,000

Nov. 3, 2022

Nov. 3, 2027

4.375%

Zero Coupon ZAR Global
ZAR 3,000
Nov. 18, 2022
Nov. 18, 2052
Notes_1101_1(Note 1) 2.90% until Apr. 27, 2024. Thereafter, it will switch to 4.00%.
(Note 2, 3) Interest is determined by the specified formula.

-

AAA
AAA
AAA
AAA
AAA
AAA
AAA

Rating Assignment Date: October 6, 2023
The assumptions for the credit ratings and the definitions of the rating symbols are published as "Types of Credit Ratings and Definitionsof Rating Symbols" (January 6, 2014) in Information about JCR Ratings on JCR's website (https://www.jcr.co.jp/en/).
Outline of the rating methodology is shown as "Multilateral Development Banks" (March 29, 2013) in Information about JCR
Ratings on JCR's website (https://www.jcr.co.jp/en/).
The rating stakeholder participated in the rating process of the aforementioned credit ratings.

Japan Credit Rating Agency, Ltd.
Jiji Press Building, 5-15-8 Ginza, Chuo-ku, Tokyo 104-0061, Japan
Tel. +81 3 3544 7013, Fax. +81 3 3544 7026
Information herein has been obtained by JCR from the issuers and other sources believed to be accurate and reliable. However, because of the possibility of human or mechanical error as well as other factors,
JCR makes no representation or warranty, express or implied, as to accuracy, results, adequacy, timeliness, completeness or merchantability, or fitness for any particular purpose, with respect to any suchinformation, and is not responsible for any errors or omissions, or for results obtained from the use of such information. Under no circumstances will JCR be liable for any special, indirect, incidental orconsequential damages of any kind caused by the use of any such information, including but not limited to, lost opportunity or lost money, whether in contract, tort, strict liability or otherwise, and whether
such damages are foreseeable or unforeseeable. JCR's ratings and credit assessments are statements of JCR's current and comprehensive opinion regarding redemption possibility, etc. of financial obligations
assumed by the issuers or financial products, and not statements of opinion regarding any risk other than credit risk, such as market liquidity risk or price fluctuation risk. JCR's ratings and credit assessments
are statements of opinion, and not statements of fact as to credit risk decisions or recommendations regarding decisions to purchase, sell or hold any securities such as individual bonds or commercial paper.
The ratings and credit assessments may be changed, suspended or withdrawn as a result of changes in or unavailability of information as well as other factors. JCR receives a rating fee paid by issuers for
conducting rating services in principle. JCR retains all rights pertaining to this document, including JCR's rating data. Any reproduction, adaptation, alteration, etc. of this document, including such rating
data, is prohibited, whether or not wholly or partly, without prior consent of JCR.
JCR is registered as a "Nationally Recognized Statistical Rating Organization" with the U.S. Securities and Exchange Commission with respect to the following four classes. (1) Financial institutions, brokers
and dealers, (2) Insurance Companies, (3) Corporate Issuers, (4) Issuers of government securities, municipal securities and foreign government securities.
JCR publishes its press releases regarding the rating actions both in Japanese and in English on the same day. In case that it takes time to translate rating rationale, JCR may publicize the summary version,
which will be replaced by the full translated version within three business days. (Regarding Structured Finance products, JCR only publicize the summary version in English.)14 / 14
Copyright © Japan Credit Rating Agency, Ltd. All Rights Reserved.

I n f o r m at i o n D i s c l o s u r e F o r mJapan Credit Rating Agency, Ltd.

Disclosure Required by Paragraph (a)(1)(ii) of Rule 17g-7

1

Issuer:

The African Development Bank

Rating Publication
Date:

October 12, 2023

The Symbol, Number, or Score in the Rating Scale used to Denote Credit Rating Categories andNotches and, the Identity of the Obligor or the Identity and a Description of the Security or Money
Market Instrument as Required by Paragraph (a)(1)(ii)(A) of Rule 17g-7
Please see the news release. If the credit rating is a private rating, please see the report for private
rating.

2

The version of the procedure or methodology used to determine the credit rating; as Required by
Paragraph (a)(1)(ii)(B) of Rule 17g-7
Please see the news release. If the credit rating is a private rating, please see the report for private
rating.

3

The Main Assumptions and Principles used in Constructing the Procedures and Methodologies used
to Determine the Credit Rating as Required by Paragraph (a)(1)(ii)(C) of Rule 17g-7
The credit rating methodology assumes, in principle, to be applied to assess the likelihood of a given
debt payment in light of its issuer’s condition and business environment, etc. in the relevant future.
There is certain limitation, however, in the time horizon that the rating foresees.
The credit rating methodology assumes, in principle, that the factors posted in the below areparticularly important for such likelihood to be determined, and that the rating determination is madeby evaluating each of them not only quantitatively but also employing qualitative analyses.

A) Business Bases
The likelihood of a given debt payment is highly conditional to its issuer’s business bases - how they
can be maintained/ expanded into the future and thereby secure earnings and cash flows in adequacy
and in a sustainable way.
B) Financial Grounds and Asset Quality
The likelihood of debt payment is highly dependent on the degree of the issuer’s indebtedness and loss
absorption capacity in terms of equity capital. Also notable is that a financial institution might see asignificant loss of financial grounds as a result of changes in value of the assets under its possession.
C) Liquidity Positions
The likelihood of debt payment is highly dependent on the adequacy of the issuer’s cash and othersources of repayment (liquidity positions).

1/5D) Related Parties’ Status and Stance of Support/ Assistance for the Issuer
The likelihood of debt payment is affected one way or the other by the issuer’s related parties such as
member countries, the issuer’s related organizations, guarantor, and the government of the issuer’s
business domicile, etc. - by their own conditions and/ or position of support/ assistance for the issuer.
E) Order of Seniority in Debt Payment
The likelihood of debt payment can be different between given debts of the same issuer. The likelihoodof debt payment for an individual debt is dependent on the issuer’s discretion, and/ or its rank relative
to other debts of the same issuer in the order of seniority in principal/ interest payment which isdetermined by design as financial product or by laws, etc.

4

The Potential Limitations of the Credit Rating as Required by Paragraph (a)(1)(ii)(D) of Rule 17g-7
The credit rating herewith presented by JCR is its summary opinion with regard to the likelihood ofgiven debt payment and hence not necessarily a perfect representation of such likelihood. The credit
rating is not intended to estimate the probability of default or the loss on given default, either.
The objective of the credit rating herewith presented does not include any concerns other than thelikelihood of debt payment, such as risks of price changes, market liquidity, etc.
The credit rating herewith presented is necessary to be reviewed along with possible changes of theissuer of rated objects in its business performance and/ or circumstances which include regulatoryenvironment, and hence subject to possible alteration.

5

Information on the Uncertainty of the Credit Rating as Required by Paragraph (a)(1)(ii)(E) of Rule
17g-7
The information used for the determination of credit rating as herewith presented is obtained by JCR
from the issuer of rated objects and other sources that JCR trusts in terms of accuracy and reliability
but possibly contains errors due to human, non-human or other causes. Consequently, the credit rating
determined on the grounds of such information does not constitute, explicitly or implicitly, any
representation or warrant of JCR on the information itself or any consequences of its use in terms ofaccuracy, relevance, timeliness, wholeness, market value, or usefulness for any specific purposes.

6

Use of Due Diligence Services of a Third Party in Taking the Rating Action as Required by Paragraph(a)(1)(ii)(F) of Rule 17g-7
There is no use of any third-party due diligence service in the determination of the credit ratingherewith presented.

7

Use of Servicer or Remittance Reports to Conduct Surveillance of the Credit Rating Required by
Paragraph (a)(1)(ii)(G) of Rule 17g-7
There is no use of any servicer or remittance report to conduct surveillance of the credit rating herewithpresented.

8

The Types of Data Relied Upon for the Purpose of Determining the Credit Rating as Required by
Paragraph (a)(1)(ii)(H) of Rule17g-7
The information posted in the below, which includes data, is used for the determination of the credit
rating herewith presented.

2/5A) Audited financial statements presented by the rating stakeholders
B) Explanations of business performance, management plans, etc. presented by the rating stakeholders
C) Documentation of the rated financial product presented by the rating stakeholders

9Overall assessment of the Quality of Information Available and Considered in Determining theCredit Rating as Required by Paragraph (a)(1)(ii)(l) of Rule 17g-7
JCR holds its basic policies for securing the quality of information as a base of due diligence for thedetermination of credit ratings. The information used as a base for the determination of credit ratingherewith presented satisfies such policies, which include the audit by an independent auditor, thepublication by the issuer or some independent media or, otherwise, JCR analyst’s scrutiny, etc.
JCR sees no particular weakness in the quality of information used for the determination of the credit
rating herewith presented as compared to the information used in other cases of the credit rating forcomparable issuers or ratable objects.
If the credit rating is an Indication, please see the report for Indication.

10 Information Relating to Conflicts of Interest as Required by Paragraph (a)(1)(ii)(J) of Rule 17g-7
JCR receives payment of compensation for the determination of the credit rating herewith presented
from either one of those parties who are issuer, underwriter, depositor or sponsor.
JCR did not receive in the last fiscal year in the past payment of compensation from the same party forany kind of JCR’s service other than the determination of public or private credit rating, such as one
in the ancillary business.

or Measure of the Potential Volatility of the Credit Rating as Required by Paragraph
11 Explanation(a)(1)(ii)(K) of Rule 17g-7
A) Business Bases
The credit rating is subject to alteration if there is improvement or deterioration of the issuer’s businessbases, since its revenue, etc. may improve or deteriorate by the change in its business management
policies, clients’ preferences, competitive situation, or a technological innovation. The resultant
alteration of the credit rating is usually by a notch, with possibility of a few notches if and when thechange in the business bases is large.
B) Financial Grounds and Asset Quality
The credit rating is subject to alteration if the issuer increases/ decreases its debt/ capital or vice versa
and thereby makes its individual debt payment liability less or more bearable and its loss absorption
capacity into the future decreased or increased. Also, the changes in the quality of asset under theissuer’s holding may affect the credit rating, since such changes could raise or lower the likelihood of
future loss of the issuer’s financial grounds. The resultant alteration of the credit rating is usually by anotch, with possibility of a few notches if and when the change in the financial grounds and/ or asset
quality is large.
C) Liquidity Positions
The credit rating is subject to alteration if there is a change in the issuer’s financial management policy
or in the relations with fund procurement sources and the change thereby makes its liquidity positions
improve or deteriorate. The resultant alteration of the credit rating is usually by a notch, with possibilityof a few notches if and when the change is large.

3/5D) Related Parties’ Status and Stance of Support/ Assistance for the Issuer
The credit rating is subject to alteration if there is a change in the issuer’s member countries, theissuer’s related organizations, guarantor or other provider of credit enhancement, or the government of
the issuer’s business domicile, or other related parties’ own conditions and/ or position of support/
assistance for the issuer, and the change thereby makes its business bases, financial grounds and/ or
liquidity positions improve or deteriorate, and/ or making the effectiveness of guarantee and othercredit enhancement improve or deteriorate. The resultant alteration of the credit rating is usually anotch, with possibility of a few notches if and when the change is large.
E) Order of Seniority in Debt Payment and Non-Payment Forgiven by Contract
The credit rating is subject to alteration if there is a change in the rated debt’s status in the order ofseniority relative to other debts caused by the improvement/ deterioration of the issuer’s financial
condition. The resultant alteration of the credit rating is usually a notch, with possibility of a few
notches if and when the change is large. Also, in case of the financial products for which non-payment
of interest/ principal is contractually permissible, the credit rating is subject to alteration if and when
the likelihood of such non-payment is projected to increase or decrease. The resultant alteration of thecredit rating could be by a notch but often as much as a few notches.
F) Rise and Fall in General Economy and Markets
The credit rating is subject to alteration if there is a rise/ fall in the general economy and/ or the markets
inducing the issuer’s revenues/ expenses to increase/ decrease and vice versa, etc. The resultant
alteration of the credit rating is usually by a notch, with possibility of a few notches if and when thechange is exceptionally large.
G) Various Events
The credit rating is subject to alteration on occurrence of various events, such as change in the issuer’s
major shareholders, M&A and other organizational change, accident, violation of the law, litigation,legal/ regulatory change, natural disaster, etc., which are unforeseeable at the time when the credit
rating is determined, causing a significant change on the issuer’s business bases, financial grounds, etc.
The resultant alteration of the credit rating could be by a notch but more often than not as much as afew notches.

12

Information on the Content of the Credit Rating, Including the Historical Performance of the Credit
Rating and the Expected Probability of Default and the Expected Loss in the Event of Default as
Required by Paragraph (a)(1)(ii)(L) of Rule 17g-7
Historical records of the credit rating herewith presented are posted in the end of this paper.
The credit rating herewith presented by JCR is its summary opinion with regard to the likelihood ofgiven debt payment and hence not necessarily a perfect representation of such likelihood. The credit
rating is not intended to estimate the probability of default or the loss on given default, either.
Facts of the probability of default are posted as Form NRSRO Exhibit 1 on the JCR website under the
URL:
https://www.jcr.co.jp/en/service/company/regu/nrsro/on the Sensitivity of the Credit Rating to Assumptions Made as Required by Paragraph
13 Information(a)(1)(ii)(M) of Rule 17g-7
A) Business Bases
The credit rating herewith presented could be changed if and when the assumptions made at the time ofits determination turn out to be inaccurate with regard to the issuer’s business bases and powers ofearning or cash flow generation, etc. The resultant change of the credit rating is most likely by a notch,
as JCR speculates, but possibly as much as a few notches if the development is rapid in improvement or
deterioration of the issuer’s business bases on some drastic change in the operational environments, etc.
B) Financial Grounds and Asset Quality
The credit rating herewith presented could be changed if and when the assumptions made at the time ofits determination turn out to be inaccurate with regard to the issuer’s financial grounds and asset
quality. The resultant change of the credit rating is most likely by a notch, as JCR speculates, but
4/5

possibly as much as a few notches if the development is rapid in improvement or deterioration of theissuer’s financial grounds and/ or asset quality on some drastic change in its business bases.

C) Liquidity Risks
The credit rating herewith presented could be changed if and when the assumptions made at the time ofits determination turn out to be inaccurate with regard to the issuer’s liquidity positions. The resultant
change of the credit rating is most likely by a notch, as JCR speculates, but possibly as much as a few
notches if the development is rapid in improvement or deterioration of the issuer’s liquidity positions
on some drastic change in its financial management policy or relations with fund procurement sources,
etc.
D) Related Parties’ Status and Stance of Support/ Assistance for the Issuer
The credit rating herewith presented could be changed if and when the assumptions made at the time ofits determination turn out to be inaccurate with regard to member countries, the issuer’s relatedorganizations, guarantor or other providers of credit enhancement, the government of the issuer’s
business domicile or other related parties’ status and stance of support/ assistance for the issuer. The
resultant change of the credit rating is most likely by a notch, as JCR speculates, but possibly as muchas a few notches if there is a major change on the part of related parties, such as replacement,
disappearance, some drastic improvement/ deterioration of financial grounds/ balances, etc.
E) Rise and Fall in General Economy and Markets
The credit rating herewith presented could be changed if and when the assumptions made at the time ofits determination turn out to be inaccurate with regard to the prospects of general economy and markets.
JCR expects the change should be most likely by a notch but could be as much as a few notches, should
the economy or the markets change so greatly.
on the Representations, Warranties, and Enforcement Mechanisms of an Asset-backed
14 Information
Security as Required by Paragraph (a)(1)(ii)(N) of rule 17g-7
The credit rating herewith presented is not for an ABS product, and hence no relevant issue.

Japan Credit Rating Agency, Ltd.
Jiji Press Building, 5-15-8 Ginza, Chuo-ku, Tokyo 104-0061, Japan
Tel. +81 3 3544 7013, Fax. +81 3 3544 7026

5/5

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Issuer(Long-term)
Issuer(Long-term)
Issuer(Long-term)
Issuer(Long-term)
Issuer(Long-term)
Issuer(Long-term)
Issuer(Long-term)
Issuer(Long-term)
Issuer(Long-term)
Issuer(Long-term)
Issuer(Long-term)
Issuer(Long-term)
Issuer(Long-term)
Issuer(Long-term)
Issuer(Long-term)
Issuer(Long-term)
Issuer(Long-term)
Issuer(Long-term)Euro Yen Forex Linked Rate
Notes_128_1
Euro Yen Forex Linked Rate
Notes_128_1
Euro Yen Forex Linked Rate
Notes_128_1
Euro Yen Forex Linked Rate
Notes_128_1
Euro Yen Forex Linked Rate
Notes_128_1
Euro Yen Forex Linked Rate
Notes_128_1
Euro Yen Forex Linked Rate
Notes_128_1
Euro Yen Forex Linked Rate
Notes_128_1
Euro Yen Forex Linked Rate
Notes_128_1
Euro Yen Forex Linked Rate
Notes_128_1
Euro Yen Forex Linked Rate
Notes_128_1
Euro Yen Forex Linked Rate
Notes_128_1
Euro Yen Forex Linked Rate
Notes_128_1
Euro Yen Forex Linked Rate
Notes_128_1
Euro Yen Forex Linked Rate
Notes_128_1
Euro Yen Forex Linked Rate
Notes_128_1
Euro Yen Forex Linked Rate
Notes_128_1
Euro Yen Forex Linked Rate
Notes_128_1
Euro Yen Forex Linked Rate
Notes_128_1
Euro Yen Forex Linked Rate
Notes_128_1
Euro Yen Forex Linked Rate
Notes_128_1
1/54

Publication Date

RatingOutlook/Direction

December 28, 2005
September 19, 2006
August 14, 2007
August 25, 2008
July 31, 2009
September 27, 2010
August 31, 2011
September 6, 2012
July 10, 2013
August 8, 2014
August 13, 2015
August 19, 2016
September 28, 2017
August 27, 2018
September 25, 2019
October 6, 2020
August 5, 2021
August 12, 2022

AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA

StableStableStableStableStableStableStableStableStableStableStableStableStableStableStableStableStableStableFebruary 14, 2002

AAA

September 3, 2002

AAA

September 3, 2003

AAA

October 5, 2004

AAA

August 3, 2005

AAA

September 19, 2006

AAA

August 14, 2007

AAA

August 25, 2008

AAA

July 31, 2009AAA

September 27, 2010

AAA

August 31, 2011AAA

September 6, 2012

AAA

July 10, 2013

AAA

August 8, 2014

AAA

August 13, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue NameEuro Yen Forex Linked Rate
Notes_128_1
Callable Forex Linked Rate
Global Yen Notes_167_1
Callable Forex Linked Rate
Global Yen Notes_167_1
Callable Forex Linked Rate
Global Yen Notes_167_1
Callable Forex Linked Rate
Global Yen Notes_167_1
Callable Forex Linked Rate
Global Yen Notes_167_1
Callable Forex Linked Rate
Global Yen Notes_167_1
Callable Forex Linked Rate
Global Yen Notes_167_1
Callable Forex Linked Rate
Global Yen Notes_167_1
Callable Forex Linked Rate
Global Yen Notes_167_1
Callable Forex Linked Rate
Global Yen Notes_167_1
Callable Forex Linked Rate
Global Yen Notes_167_1
Callable Forex Linked Rate
Global Yen Notes_167_1
Callable Forex Linked Rate
Global Yen Notes_167_1
Callable Forex Linked Rate
Global Yen Notes_167_1
Callable Forex Linked Rate
Global Yen Notes_167_1
Callable Forex Linked Rate
Global Yen Notes_167_1
Callable Forex Linked Rate
Global Yen Notes_167_1
Callable Forex Linked Rate
Global Yen Notes_167_1
Callable Forex Linked Rate
Global Yen Notes_167_1
Callable Forex Linked Rate
Global Yen Notes_167_1
Callable Forex Linked Rate
Global Yen Notes_167_1
Reverse Dual Currency Global
Yen/US$Notes_169_1
Reverse Dual Currency Global
Yen/US$Notes_169_1
Reverse Dual Currency Global
Yen/US$Notes_169_1
Reverse Dual Currency Global
Yen/US$Notes_169_1
Reverse Dual Currency Global
Yen/US$Notes_169_1
Reverse Dual Currency Global
Yen/US$Notes_169_1
Reverse Dual Currency Global
Yen/US$Notes_169_1
Reverse Dual Currency Global
Yen/US$Notes_169_1
2/54

Publication Date

RatingAugust 12, 2022

AAA

September 3, 2002

AAA

September 3, 2003

AAA

October 5, 2004

AAA

August 3, 2005

AAA

September 19, 2006

AAA

August 14, 2007

AAA

August 25, 2008

AAA

July 31, 2009AAA

September 27, 2010

AAA

August 31, 2011AAA

September 6, 2012

AAA

July 10, 2013

AAA

August 8, 2014

AAA

August 13, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

September 3, 2002

AAA

September 3, 2003

AAA

October 5, 2004

AAA

August 3, 2005

AAA

September 19, 2006

AAA

August 14, 2007

AAA

August 25, 2008

AAA

July 31, 2009

AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Reverse Dual Currency Global
Yen/US$Notes_169_1
Reverse Dual Currency Global
Yen/US$Notes_169_1
Reverse Dual Currency Global
Yen/US$Notes_169_1
Reverse Dual Currency Global
Yen/US$Notes_169_1
Reverse Dual Currency Global
Yen/US$Notes_169_1
Reverse Dual Currency Global
Yen/US$Notes_169_1
Reverse Dual Currency Global
Yen/US$Notes_169_1
Reverse Dual Currency Global
Yen/US$Notes_169_1
Reverse Dual Currency Global
Yen/US$Notes_169_1
Reverse Dual Currency Global
Yen/US$Notes_169_1
Reverse Dual Currency Global
Yen/US$Notes_169_1
Reverse Dual Currency Global
Yen/US$Notes_169_1
Reverse Dual Currency Global
Yen/US$Notes_169_1
Reverse Dual Currency Global
Yen/AU$ Notes_171_1
Reverse Dual Currency Global
Yen/AU$ Notes_171_1
Reverse Dual Currency Global
Yen/AU$ Notes_171_1
Reverse Dual Currency Global
Yen/AU$ Notes_171_1
Reverse Dual Currency Global
Yen/AU$ Notes_171_1
Reverse Dual Currency Global
Yen/AU$ Notes_171_1
Reverse Dual Currency Global
Yen/AU$ Notes_171_1
Reverse Dual Currency Global
Yen/AU$ Notes_171_1
Reverse Dual Currency Global
Yen/AU$ Notes_171_1
Reverse Dual Currency Global
Yen/AU$ Notes_171_1
Reverse Dual Currency Global
Yen/AU$ Notes_171_1
Reverse Dual Currency Global
Yen/AU$ Notes_171_1
Reverse Dual Currency Global
Yen/AU$ Notes_171_1
Reverse Dual Currency Global
Yen/AU$ Notes_171_1
Reverse Dual Currency Global
Yen/AU$ Notes_171_1
Reverse Dual Currency Global
Yen/AU$ Notes_171_1
Reverse Dual Currency Global
Yen/AU$ Notes_171_1
3/54

Publication Date

RatingSeptember 27, 2010

AAA

August 31, 2011AAA

September 6, 2012

AAA

July 10, 2013

AAA

August 8, 2014

AAA

August 13, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

September 3, 2002

AAA

September 3, 2003

AAA

October 5, 2004

AAA

August 3, 2005

AAA

September 19, 2006

AAA

August 14, 2007

AAA

August 25, 2008

AAA

July 31, 2009AAA

September 27, 2010

AAA

August 31, 2011AAA

September 6, 2012

AAA

July 10, 2013

AAA

August 8, 2014

AAA

August 13, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018

AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Reverse Dual Currency Global
Yen/AU$ Notes_171_1
Reverse Dual Currency Global
Yen/AU$ Notes_171_1
Reverse Dual Currency Global
Yen/AU$ Notes_171_1
Reverse Dual Currency Global
Yen/AU$ Notes_171_1
Callable Forex Linked Rate
Global Yen Notes_179_1
Callable Forex Linked Rate
Global Yen Notes_179_1
Callable Forex Linked Rate
Global Yen Notes_179_1
Callable Forex Linked Rate
Global Yen Notes_179_1
Callable Forex Linked Rate
Global Yen Notes_179_1
Callable Forex Linked Rate
Global Yen Notes_179_1
Callable Forex Linked Rate
Global Yen Notes_179_1
Callable Forex Linked Rate
Global Yen Notes_179_1
Callable Forex Linked Rate
Global Yen Notes_179_1
Callable Forex Linked Rate
Global Yen Notes_179_1
Callable Forex Linked Rate
Global Yen Notes_179_1
Callable Forex Linked Rate
Global Yen Notes_179_1
Callable Forex Linked Rate
Global Yen Notes_179_1
Callable Forex Linked Rate
Global Yen Notes_179_1
Callable Forex Linked Rate
Global Yen Notes_179_1
Callable Forex Linked Rate
Global Yen Notes_179_1
Callable Forex Linked Rate
Global Yen Notes_179_1
Callable Forex Linked Rate
Global Yen Notes_179_1
Callable Forex Linked Rate
Global Yen Notes_179_1
Callable Forex Linked Rate
Global Yen Notes_179_1
Callable Forex Linked Rate
Global Yen Notes_179_1
Callable Forex Linked Rate
Global Yen Notes_182
Callable Forex Linked Rate
Global Yen Notes_182
Callable Forex Linked Rate
Global Yen Notes_182
Callable Forex Linked Rate
Global Yen Notes_182
Callable Forex Linked Rate
Global Yen Notes_182
4/54

Publication Date

RatingSeptember 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

September 3, 2002

AAA

September 3, 2003

AAA

October 5, 2004

AAA

August 3, 2005

AAA

September 19, 2006

AAA

August 14, 2007

AAA

August 25, 2008

AAA

July 31, 2009AAA

September 27, 2010

AAA

August 31, 2011AAA

September 6, 2012

AAA

July 10, 2013

AAA

August 8, 2014

AAA

August 13, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

September 3, 2002

AAA

September 3, 2003

AAA

October 5, 2004

AAA

August 3, 2005

AAA

September 19, 2006

AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Callable Forex Linked Rate
Global Yen Notes_182
Callable Forex Linked Rate
Global Yen Notes_182
Callable Forex Linked Rate
Global Yen Notes_182
Callable Forex Linked Rate
Global Yen Notes_182
Callable Forex Linked Rate
Global Yen Notes_182
Callable Forex Linked Rate
Global Yen Notes_182
Callable Forex Linked Rate
Global Yen Notes_182
Callable Forex Linked Rate
Global Yen Notes_182
Callable Forex Linked Rate
Global Yen Notes_182
Callable Forex Linked Rate
Global Yen Notes_182
Callable Forex Linked Rate
Global Yen Notes_182
Callable Forex Linked Rate
Global Yen Notes_182
Callable Forex Linked Rate
Global Yen Notes_182
Callable Forex Linked Rate
Global Yen Notes_182
Callable Forex Linked Rate
Global Yen Notes_182
Callable Forex Linked Rate
Global Yen Notes_182
Callable Forex Linked Rate
Global Yen Notes_219_1
Callable Forex Linked Rate
Global Yen Notes_219_1
Callable Forex Linked Rate
Global Yen Notes_219_1
Callable Forex Linked Rate
Global Yen Notes_219_1
Callable Forex Linked Rate
Global Yen Notes_219_1
Callable Forex Linked Rate
Global Yen Notes_219_1
Callable Forex Linked Rate
Global Yen Notes_219_1
Callable Forex Linked Rate
Global Yen Notes_219_1
Callable Forex Linked Rate
Global Yen Notes_219_1
Callable Forex Linked Rate
Global Yen Notes_219_1
Callable Forex Linked Rate
Global Yen Notes_219_1
Callable Forex Linked Rate
Global Yen Notes_219_1
Callable Forex Linked Rate
Global Yen Notes_219_1
Callable Forex Linked Rate
Global Yen Notes_219_1
5/54

Publication Date

RatingAugust 14, 2007

AAA

August 25, 2008

AAA

July 31, 2009AAA

September 27, 2010

AAA

August 31, 2011AAA

September 6, 2012

AAA

July 10, 2013

AAA

August 8, 2014

AAA

August 13, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

December 4, 2003

AAA

October 5, 2004

AAA

August 3, 2005

AAA

September 19, 2006

AAA

August 14, 2007

AAA

August 25, 2008

AAA

July 31, 2009AAA

September 27, 2010

AAA

August 31, 2011AAA

September 6, 2012

AAA

July 10, 2013

AAA

August 8, 2014

AAA

August 13, 2015

AAA

August 19, 2016

AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Callable Forex Linked Rate
Global Yen Notes_219_1
Callable Forex Linked Rate
Global Yen Notes_219_1
Callable Forex Linked Rate
Global Yen Notes_219_1
Callable Forex Linked Rate
Global Yen Notes_219_1
Callable Forex Linked Rate
Global Yen Notes_219_1
Callable Forex Linked Rate
Global Yen Notes_219_1
Callable Forex Linked Rate
Global Yen Notes_225_1
Callable Forex Linked Rate
Global Yen Notes_225_1
Callable Forex Linked Rate
Global Yen Notes_225_1
Callable Forex Linked Rate
Global Yen Notes_225_1
Callable Forex Linked Rate
Global Yen Notes_225_1
Callable Forex Linked Rate
Global Yen Notes_225_1
Callable Forex Linked Rate
Global Yen Notes_225_1
Callable Forex Linked Rate
Global Yen Notes_225_1
Callable Forex Linked Rate
Global Yen Notes_225_1
Callable Forex Linked Rate
Global Yen Notes_225_1
Callable Forex Linked Rate
Global Yen Notes_225_1
Callable Forex Linked Rate
Global Yen Notes_225_1
Callable Forex Linked Rate
Global Yen Notes_225_1
Callable Forex Linked Rate
Global Yen Notes_225_1
Callable Forex Linked Rate
Global Yen Notes_225_1
Callable Forex Linked Rate
Global Yen Notes_225_1
Callable Forex Linked Rate
Global Yen Notes_225_1
Callable Forex Linked Rate
Global Yen Notes_225_1
Callable Forex Linked Rate
Global Yen Notes_225_1
Callable Forex Linked Rate
Global Yen Notes_225_1
Callable Forex Linked Rate
Global Yen Notes_226_1
Callable Forex Linked Rate
Global Yen Notes_226_1
Callable Forex Linked Rate
Global Yen Notes_226_1
Callable Forex Linked Rate
Global Yen Notes_226_1
6/54

Publication Date

RatingSeptember 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

December 4, 2003

AAA

October 5, 2004

AAA

August 3, 2005

AAA

September 19, 2006

AAA

August 14, 2007

AAA

August 25, 2008

AAA

July 31, 2009AAA

September 27, 2010

AAA

August 31, 2011AAA

September 6, 2012

AAA

July 10, 2013

AAA

August 8, 2014

AAA

August 13, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

December 4, 2003

AAA

October 5, 2004

AAA

August 3, 2005

AAA

September 19, 2006

AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Callable Forex Linked Rate
Global Yen Notes_226_1
Callable Forex Linked Rate
Global Yen Notes_226_1
Callable Forex Linked Rate
Global Yen Notes_226_1
Callable Forex Linked Rate
Global Yen Notes_226_1
Callable Forex Linked Rate
Global Yen Notes_226_1
Callable Forex Linked Rate
Global Yen Notes_226_1
Callable Forex Linked Rate
Global Yen Notes_226_1
Callable Forex Linked Rate
Global Yen Notes_226_1
Callable Forex Linked Rate
Global Yen Notes_226_1
Callable Forex Linked Rate
Global Yen Notes_226_1
Callable Forex Linked Rate
Global Yen Notes_226_1
Callable Forex Linked Rate
Global Yen Notes_226_1
Callable Forex Linked Rate
Global Yen Notes_226_1
Callable Forex Linked Rate
Global Yen Notes_226_1
Callable Forex Linked Rate
Global Yen Notes_226_1
Callable Forex Linked Rate
Global Yen Notes_226_1
Callable Forex Linked Rate
Global Yen Notes_228_1
Callable Forex Linked Rate
Global Yen Notes_228_1
Callable Forex Linked Rate
Global Yen Notes_228_1
Callable Forex Linked Rate
Global Yen Notes_228_1
Callable Forex Linked Rate
Global Yen Notes_228_1
Callable Forex Linked Rate
Global Yen Notes_228_1
Callable Forex Linked Rate
Global Yen Notes_228_1
Callable Forex Linked Rate
Global Yen Notes_228_1
Callable Forex Linked Rate
Global Yen Notes_228_1
Callable Forex Linked Rate
Global Yen Notes_228_1
Callable Forex Linked Rate
Global Yen Notes_228_1
Callable Forex Linked Rate
Global Yen Notes_228_1
Callable Forex Linked Rate
Global Yen Notes_228_1
Callable Forex Linked Rate
Global Yen Notes_228_1
7/54

Publication Date

RatingAugust 14, 2007

AAA

August 25, 2008

AAA

July 31, 2009AAA

September 27, 2010

AAA

August 31, 2011AAA

September 6, 2012

AAA

July 10, 2013

AAA

August 8, 2014

AAA

August 13, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

December 4, 2003

AAA

October 5, 2004

AAA

August 3, 2005

AAA

September 19, 2006

AAA

August 14, 2007

AAA

August 25, 2008

AAA

July 31, 2009AAA

September 27, 2010

AAA

August 31, 2011AAA

September 6, 2012

AAA

July 10, 2013

AAA

August 8, 2014

AAA

August 13, 2015

AAA

August 19, 2016

AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Callable Forex Linked Rate
Global Yen Notes_228_1
Callable Forex Linked Rate
Global Yen Notes_228_1
Callable Forex Linked Rate
Global Yen Notes_228_1
Callable Forex Linked Rate
Global Yen Notes_228_1
Callable Forex Linked Rate
Global Yen Notes_228_1
Callable Forex Linked Rate
Global Yen Notes_228_1
Callable Forex Linked Rate
Global Yen Notes_230_1
Callable Forex Linked Rate
Global Yen Notes_230_1
Callable Forex Linked Rate
Global Yen Notes_230_1
Callable Forex Linked Rate
Global Yen Notes_230_1
Callable Forex Linked Rate
Global Yen Notes_230_1
Callable Forex Linked Rate
Global Yen Notes_230_1
Callable Forex Linked Rate
Global Yen Notes_230_1
Callable Forex Linked Rate
Global Yen Notes_230_1
Callable Forex Linked Rate
Global Yen Notes_230_1
Callable Forex Linked Rate
Global Yen Notes_230_1
Callable Forex Linked Rate
Global Yen Notes_230_1
Callable Forex Linked Rate
Global Yen Notes_230_1
Callable Forex Linked Rate
Global Yen Notes_230_1
Callable Forex Linked Rate
Global Yen Notes_230_1
Callable Forex Linked Rate
Global Yen Notes_230_1
Callable Forex Linked Rate
Global Yen Notes_230_1
Callable Forex Linked Rate
Global Yen Notes_230_1
Callable Forex Linked Rate
Global Yen Notes_230_1
Callable Forex Linked Rate
Global Yen Notes_230_1
Callable Forex Linked Rate
Global Yen Notes_230_1
Callable Forex Linked Rate
Global Yen Notes_233_1
Callable Forex Linked Rate
Global Yen Notes_233_1
Callable Forex Linked Rate
Global Yen Notes_233_1
Callable Forex Linked Rate
Global Yen Notes_233_1
8/54

Publication Date

RatingSeptember 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

December 4, 2003

AAA

October 5, 2004

AAA

August 3, 2005

AAA

September 19, 2006

AAA

August 14, 2007

AAA

August 25, 2008

AAA

July 31, 2009AAA

September 27, 2010

AAA

August 31, 2011AAA

September 6, 2012

AAA

July 10, 2013

AAA

August 8, 2014

AAA

August 13, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

December 4, 2003

AAA

October 5, 2004

AAA

August 3, 2005

AAA

September 19, 2006

AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Callable Forex Linked Rate
Global Yen Notes_233_1
Callable Forex Linked Rate
Global Yen Notes_233_1
Callable Forex Linked Rate
Global Yen Notes_233_1
Callable Forex Linked Rate
Global Yen Notes_233_1
Callable Forex Linked Rate
Global Yen Notes_233_1
Callable Forex Linked Rate
Global Yen Notes_233_1
Callable Forex Linked Rate
Global Yen Notes_233_1
Callable Forex Linked Rate
Global Yen Notes_233_1
Callable Forex Linked Rate
Global Yen Notes_233_1
Callable Forex Linked Rate
Global Yen Notes_233_1
Callable Forex Linked Rate
Global Yen Notes_233_1
Callable Forex Linked Rate
Global Yen Notes_233_1
Callable Forex Linked Rate
Global Yen Notes_233_1
Callable Forex Linked Rate
Global Yen Notes_233_1
Callable Forex Linked Rate
Global Yen Notes_233_1
Callable Forex Linked Rate
Global Yen Notes_233_1
Callable Forex Linked Rate
Global Yen Notes_235_1
Callable Forex Linked Rate
Global Yen Notes_235_1
Callable Forex Linked Rate
Global Yen Notes_235_1
Callable Forex Linked Rate
Global Yen Notes_235_1
Callable Forex Linked Rate
Global Yen Notes_235_1
Callable Forex Linked Rate
Global Yen Notes_235_1
Callable Forex Linked Rate
Global Yen Notes_235_1
Callable Forex Linked Rate
Global Yen Notes_235_1
Callable Forex Linked Rate
Global Yen Notes_235_1
Callable Forex Linked Rate
Global Yen Notes_235_1
Callable Forex Linked Rate
Global Yen Notes_235_1
Callable Forex Linked Rate
Global Yen Notes_235_1
Callable Forex Linked Rate
Global Yen Notes_235_1
Callable Forex Linked Rate
Global Yen Notes_235_1
9/54

Publication Date

RatingAugust 14, 2007

AAA

August 25, 2008

AAA

July 31, 2009AAA

September 27, 2010

AAA

August 31, 2011AAA

September 6, 2012

AAA

July 10, 2013

AAA

August 8, 2014

AAA

August 13, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

December 4, 2003

AAA

October 5, 2004

AAA

August 3, 2005

AAA

September 19, 2006

AAA

August 14, 2007

AAA

August 25, 2008

AAA

July 31, 2009AAA

September 27, 2010

AAA

August 31, 2011AAA

September 6, 2012

AAA

July 10, 2013

AAA

August 8, 2014

AAA

August 13, 2015

AAA

August 19, 2016

AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Callable Forex Linked Rate
Global Yen Notes_235_1
Callable Forex Linked Rate
Global Yen Notes_235_1
Callable Forex Linked Rate
Global Yen Notes_235_1
Callable Forex Linked Rate
Global Yen Notes_235_1
Callable Forex Linked Rate
Global Yen Notes_235_1
Callable Forex Linked Rate
Global Yen Notes_235_1
Forex Linked Rate Global Yen
Notes_236_1
Forex Linked Rate Global Yen
Notes_236_1
Forex Linked Rate Global Yen
Notes_236_1
Forex Linked Rate Global Yen
Notes_236_1
Forex Linked Rate Global Yen
Notes_236_1
Forex Linked Rate Global Yen
Notes_236_1
Forex Linked Rate Global Yen
Notes_236_1
Forex Linked Rate Global Yen
Notes_236_1
Forex Linked Rate Global Yen
Notes_236_1
Forex Linked Rate Global Yen
Notes_236_1
Forex Linked Rate Global Yen
Notes_236_1
Forex Linked Rate Global Yen
Notes_236_1
Forex Linked Rate Global Yen
Notes_236_1
Forex Linked Rate Global Yen
Notes_236_1
Forex Linked Rate Global Yen
Notes_236_1
Forex Linked Rate Global Yen
Notes_236_1
Forex Linked Rate Global Yen
Notes_236_1
Forex Linked Rate Global Yen
Notes_236_1
Forex Linked Rate Global Yen
Notes_236_1
Forex Linked Rate Global Yen
Notes_236_1
Callable Forex Linked Rate
Global Yen Notes_237_1
Callable Forex Linked Rate
Global Yen Notes_237_1
Callable Forex Linked Rate
Global Yen Notes_237_1
Callable Forex Linked Rate
Global Yen Notes_237_1
10/54

Publication Date

RatingSeptember 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

December 4, 2003

AAA

October 5, 2004

AAA

August 3, 2005

AAA

September 19, 2006

AAA

August 14, 2007

AAA

August 25, 2008

AAA

July 31, 2009AAA

September 27, 2010

AAA

August 31, 2011AAA

September 6, 2012

AAA

July 10, 2013

AAA

August 8, 2014

AAA

August 13, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

December 4, 2003

AAA

October 5, 2004

AAA

August 3, 2005

AAA

September 19, 2006

AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Callable Forex Linked Rate
Global Yen Notes_237_1
Callable Forex Linked Rate
Global Yen Notes_237_1
Callable Forex Linked Rate
Global Yen Notes_237_1
Callable Forex Linked Rate
Global Yen Notes_237_1
Callable Forex Linked Rate
Global Yen Notes_237_1
Callable Forex Linked Rate
Global Yen Notes_237_1
Callable Forex Linked Rate
Global Yen Notes_237_1
Callable Forex Linked Rate
Global Yen Notes_237_1
Callable Forex Linked Rate
Global Yen Notes_237_1
Callable Forex Linked Rate
Global Yen Notes_237_1
Callable Forex Linked Rate
Global Yen Notes_237_1
Callable Forex Linked Rate
Global Yen Notes_237_1
Callable Forex Linked Rate
Global Yen Notes_237_1
Callable Forex Linked Rate
Global Yen Notes_237_1
Callable Forex Linked Rate
Global Yen Notes_237_1
Callable Forex Linked Rate
Global Yen Notes_237_1
Callable Forex Linked Rate
Global Yen Notes (A)_238
Callable Forex Linked Rate
Global Yen Notes (A)_238
Callable Forex Linked Rate
Global Yen Notes (A)_238
Callable Forex Linked Rate
Global Yen Notes (A)_238
Callable Forex Linked Rate
Global Yen Notes (A)_238
Callable Forex Linked Rate
Global Yen Notes (A)_238
Callable Forex Linked Rate
Global Yen Notes (A)_238
Callable Forex Linked Rate
Global Yen Notes (A)_238
Callable Forex Linked Rate
Global Yen Notes (A)_238
Callable Forex Linked Rate
Global Yen Notes (A)_238
Callable Forex Linked Rate
Global Yen Notes (A)_238
Callable Forex Linked Rate
Global Yen Notes (A)_238
Callable Forex Linked Rate
Global Yen Notes (A)_238
Callable Forex Linked Rate
Global Yen Notes (A)_238
11/54

Publication Date

RatingAugust 14, 2007

AAA

August 25, 2008

AAA

July 31, 2009AAA

September 27, 2010

AAA

August 31, 2011AAA

September 6, 2012

AAA

July 10, 2013

AAA

August 8, 2014

AAA

August 13, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

December 4, 2003

AAA

October 5, 2004

AAA

August 3, 2005

AAA

September 19, 2006

AAA

August 14, 2007

AAA

August 25, 2008

AAA

July 31, 2009AAA

September 27, 2010

AAA

August 31, 2011AAA

September 6, 2012

AAA

July 10, 2013

AAA

August 8, 2014

AAA

August 13, 2015

AAA

August 19, 2016

AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Callable Forex Linked Rate
Global Yen Notes (A)_238
Callable Forex Linked Rate
Global Yen Notes (A)_238
Callable Forex Linked Rate
Global Yen Notes (A)_238
Callable Forex Linked Rate
Global Yen Notes (A)_238
Callable Forex Linked Rate
Global Yen Notes (A)_238
Callable Forex Linked Rate
Global Yen Notes (A)_238
Callable Forex Linked Rate
Global Yen Notes_240_1
Callable Forex Linked Rate
Global Yen Notes_240_1
Callable Forex Linked Rate
Global Yen Notes_240_1
Callable Forex Linked Rate
Global Yen Notes_240_1
Callable Forex Linked Rate
Global Yen Notes_240_1
Callable Forex Linked Rate
Global Yen Notes_240_1
Callable Forex Linked Rate
Global Yen Notes_240_1
Callable Forex Linked Rate
Global Yen Notes_240_1
Callable Forex Linked Rate
Global Yen Notes_240_1
Callable Forex Linked Rate
Global Yen Notes_240_1
Callable Forex Linked Rate
Global Yen Notes_240_1
Callable Forex Linked Rate
Global Yen Notes_240_1
Callable Forex Linked Rate
Global Yen Notes_240_1
Callable Forex Linked Rate
Global Yen Notes_240_1
Callable Forex Linked Rate
Global Yen Notes_240_1
Callable Forex Linked Rate
Global Yen Notes_240_1
Callable Forex Linked Rate
Global Yen Notes_240_1
Callable Forex Linked Rate
Global Yen Notes_240_1
Callable Forex Linked Rate
Global Yen Notes_240_1
Callable Forex Linked Rate
Global Yen Notes_240_1
Callable Forex Linked Rate
Global Yen Notes_241_1
Callable Forex Linked Rate
Global Yen Notes_241_1
Callable Forex Linked Rate
Global Yen Notes_241_1
Callable Forex Linked Rate
Global Yen Notes_241_1
12/54

Publication Date

RatingSeptember 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

December 4, 2003

AAA

October 5, 2004

AAA

August 3, 2005

AAA

September 19, 2006

AAA

August 14, 2007

AAA

August 25, 2008

AAA

July 31, 2009AAA

September 27, 2010

AAA

August 31, 2011AAA

September 6, 2012

AAA

July 10, 2013

AAA

August 8, 2014

AAA

August 13, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

December 4, 2003

AAA

October 5, 2004

AAA

August 3, 2005

AAA

September 19, 2006

AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Callable Forex Linked Rate
Global Yen Notes_241_1
Callable Forex Linked Rate
Global Yen Notes_241_1
Callable Forex Linked Rate
Global Yen Notes_241_1
Callable Forex Linked Rate
Global Yen Notes_241_1
Callable Forex Linked Rate
Global Yen Notes_241_1
Callable Forex Linked Rate
Global Yen Notes_241_1
Callable Forex Linked Rate
Global Yen Notes_241_1
Callable Forex Linked Rate
Global Yen Notes_241_1
Callable Forex Linked Rate
Global Yen Notes_241_1
Callable Forex Linked Rate
Global Yen Notes_241_1
Callable Forex Linked Rate
Global Yen Notes_241_1
Callable Forex Linked Rate
Global Yen Notes_241_1
Callable Forex Linked Rate
Global Yen Notes_241_1
Callable Forex Linked Rate
Global Yen Notes_241_1
Callable Forex Linked Rate
Global Yen Notes_241_1
Callable Forex Linked Rate
Global Yen Notes_241_1
Callable Forex Linked Rate
Global Yen Notes_243_1
Callable Forex Linked Rate
Global Yen Notes_243_1
Callable Forex Linked Rate
Global Yen Notes_243_1
Callable Forex Linked Rate
Global Yen Notes_243_1
Callable Forex Linked Rate
Global Yen Notes_243_1
Callable Forex Linked Rate
Global Yen Notes_243_1
Callable Forex Linked Rate
Global Yen Notes_243_1
Callable Forex Linked Rate
Global Yen Notes_243_1
Callable Forex Linked Rate
Global Yen Notes_243_1
Callable Forex Linked Rate
Global Yen Notes_243_1
Callable Forex Linked Rate
Global Yen Notes_243_1
Callable Forex Linked Rate
Global Yen Notes_243_1
Callable Forex Linked Rate
Global Yen Notes_243_1
Callable Forex Linked Rate
Global Yen Notes_243_1
13/54

Publication Date

RatingAugust 14, 2007

AAA

August 25, 2008

AAA

July 31, 2009AAA

September 27, 2010

AAA

August 31, 2011AAA

September 6, 2012

AAA

July 10, 2013

AAA

August 8, 2014

AAA

August 13, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

December 4, 2003

AAA

October 5, 2004

AAA

August 3, 2005

AAA

September 19, 2006

AAA

August 14, 2007

AAA

August 25, 2008

AAA

July 31, 2009AAA

September 27, 2010

AAA

August 31, 2011AAA

September 6, 2012

AAA

July 10, 2013

AAA

August 8, 2014

AAA

August 13, 2015

AAA

August 19, 2016

AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Callable Forex Linked Rate
Global Yen Notes_243_1
Callable Forex Linked Rate
Global Yen Notes_243_1
Callable Forex Linked Rate
Global Yen Notes_243_1
Callable Forex Linked Rate
Global Yen Notes_243_1
Callable Forex Linked Rate
Global Yen Notes_243_1
Callable Forex Linked Rate
Global Yen Notes_243_1
Callable Forex Linked Rate
Global Yen Notes (B)_239
Callable Forex Linked Rate
Global Yen Notes (B)_239
Callable Forex Linked Rate
Global Yen Notes (B)_239
Callable Forex Linked Rate
Global Yen Notes (B)_239
Callable Forex Linked Rate
Global Yen Notes (B)_239
Callable Forex Linked Rate
Global Yen Notes (B)_239
Callable Forex Linked Rate
Global Yen Notes (B)_239
Callable Forex Linked Rate
Global Yen Notes (B)_239
Callable Forex Linked Rate
Global Yen Notes (B)_239
Callable Forex Linked Rate
Global Yen Notes (B)_239
Callable Forex Linked Rate
Global Yen Notes (B)_239
Callable Forex Linked Rate
Global Yen Notes (B)_239
Callable Forex Linked Rate
Global Yen Notes (B)_239
Callable Forex Linked Rate
Global Yen Notes (B)_239
Callable Forex Linked Rate
Global Yen Notes (B)_239
Callable Forex Linked Rate
Global Yen Notes (B)_239
Callable Forex Linked Rate
Global Yen Notes (B)_239
Callable Forex Linked Rate
Global Yen Notes (B)_239
Callable Forex Linked Rate
Global Yen Notes (B)_239
Callable Forex Linked Rate
Global Yen Notes (B)_239
Callable Forex Linked Rate
Global Yen Notes_287_1
Callable Forex Linked Rate
Global Yen Notes_287_1
Callable Forex Linked Rate
Global Yen Notes_287_1
Callable Forex Linked Rate
Global Yen Notes_287_1
14/54

Publication Date

RatingSeptember 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

December 4, 2003

AAA

October 5, 2004

AAA

August 3, 2005

AAA

September 19, 2006

AAA

August 14, 2007

AAA

August 25, 2008

AAA

July 31, 2009AAA

September 27, 2010

AAA

August 31, 2011AAA

September 6, 2012

AAA

July 10, 2013

AAA

August 8, 2014

AAA

August 13, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

September 19, 2006

AAA

August 14, 2007

AAA

August 25, 2008

AAA

July 31, 2009

AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Callable Forex Linked Rate
Global Yen Notes_287_1
Callable Forex Linked Rate
Global Yen Notes_287_1
Callable Forex Linked Rate
Global Yen Notes_287_1
Callable Forex Linked Rate
Global Yen Notes_287_1
Callable Forex Linked Rate
Global Yen Notes_287_1
Callable Forex Linked Rate
Global Yen Notes_287_1
Callable Forex Linked Rate
Global Yen Notes_287_1
Callable Forex Linked Rate
Global Yen Notes_287_1
Callable Forex Linked Rate
Global Yen Notes_287_1
Callable Forex Linked Rate
Global Yen Notes_287_1
Callable Forex Linked Rate
Global Yen Notes_287_1
Callable Forex Linked Rate
Global Yen Notes_287_1
Callable Forex Linked Rate
Global Yen Notes_287_1
Callable Forex Linked Capped
Global Yen Notes_311_1
Callable Forex Linked Capped
Global Yen Notes_311_1
Callable Forex Linked Capped
Global Yen Notes_311_1
Callable Forex Linked Capped
Global Yen Notes_311_1
Callable Forex Linked Capped
Global Yen Notes_311_1
Callable Forex Linked Capped
Global Yen Notes_311_1
Callable Forex Linked Capped
Global Yen Notes_311_1
Callable Forex Linked Capped
Global Yen Notes_311_1
Callable Forex Linked Capped
Global Yen Notes_311_1
Callable Forex Linked Capped
Global Yen Notes_311_1
Callable Forex Linked Capped
Global Yen Notes_311_1
Callable Forex Linked Capped
Global Yen Notes_311_1
Callable Forex Linked Capped
Global Yen Notes_311_1
Callable Forex Linked Capped
Global Yen Notes_311_1
Callable Forex Linked Capped
Global Yen Notes_311_1
Callable Forex Linked Capped
Global Yen Notes_311_1
A$ Global Notes_398_1
A$ Global Notes_398_1
15/54

Publication Date

RatingSeptember 27, 2010

AAA

August 31, 2011AAA

September 6, 2012

AAA

July 10, 2013

AAA

August 8, 2014

AAA

August 13, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

August 14, 2007

AAA

August 25, 2008

AAA

July 31, 2009AAA

September 27, 2010

AAA

August 31, 2011AAA

September 6, 2012

AAA

July 10, 2013

AAA

August 8, 2014

AAA

August 13, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

August 31, 2011
September 6, 2012

AAA
AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

A$ Global Notes_398_1
A$ Global Notes_398_1
A$ Global Notes_398_1
A$ Global Notes_398_1
A$ Global Notes_398_1
A$ Global Notes_398_1
A$ Global Notes_398_1
A$ Global Notes_398_1
A$ Global Notes_398_1
A$ Global Notes_398_1
Callable Fixed to Capped FXLinked Interest JPY Global
Callable Fixed to Capped FXLinked Interest JPY Global
Callable Fixed to Capped FXLinked Interest JPY Global
Callable Fixed to Capped FXLinked Interest JPY Global
Callable Fixed to Capped FXLinked Interest JPY Global
Callable Fixed to Capped FXLinked Interest JPY Global
Callable Fixed to Capped FXLinked Interest JPY Global
Callable Fixed to Capped FXLinked Interest JPY Global
Callable Fixed to Capped FXLinked Interest JPY Global
Callable Fixed to Capped FXLinked Interest JPY Global
Callable Fixed to Capped FXLinked Interest JPY Global
Callable Fixed to Capped FXLinked Interest JPY Global
TRY Discount Global
TRY Discount Global
TRY Discount Global
TRY Discount Global
TRY Discount Global
TRY Discount Global
TRY Discount Global
TRY Discount Global
TRY Discount Global
TRY Discount Global
TRY Discount Global
MXN Discount Global
MXN Discount Global
MXN Discount Global
MXN Discount Global
MXN Discount Global
MXN Discount Global
MXN Discount Global
MXN Discount Global
MXN Discount Global
MXN Discount Global
MXN Discount Global
TRY Global Notes_468_1
TRY Global Notes_468_1
TRY Global Notes_468_1
TRY Global Notes_468_1
16/54

Publication Date

RatingJuly 10, 2013
August 8, 2014
August 13, 2015
August 19, 2016
September 28, 2017
August 27, 2018
September 25, 2019
October 6, 2020
August 5, 2021
August 12, 2022

AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA

May 11, 2012AAA

September 6, 2012

AAA

July 10, 2013

AAA

August 8, 2014

AAA

August 13, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

September 6, 2012
July 10, 2013
August 8, 2014
August 13, 2015
August 19, 2016
September 28, 2017
August 27, 2018
September 25, 2019
October 6, 2020
August 5, 2021
August 12, 2022
September 6, 2012
July 10, 2013
August 8, 2014
August 13, 2015
August 19, 2016
September 28, 2017
August 27, 2018
September 25, 2019
October 6, 2020
August 5, 2021
August 12, 2022
November 11, 2013
August 8, 2014
August 13, 2015
August 19, 2016

AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Publication Date

RatingTRY Global Notes_468_1
TRY Global Notes_468_1
TRY Global Notes_468_1
TRY Global Notes_468_1
TRY Global Notes_468_1
TRY Global Notes_468_1
BRL Global Notes_479_1
BRL Global Notes_479_1
BRL Global Notes_479_1
BRL Global Notes_479_1
BRL Global Notes_479_1
BRL Global Notes_479_1
BRL Global Notes_479_1
BRL Global Notes_479_1
BRL Global Notes_479_1
BRL Global Notes_479_1
Callable Fixed/Index Linked Rate
Yen/AUD Dual Currency Global
Notes_490_1
Callable Fixed/Index Linked Rate
Yen/AUD Dual Currency Global
Notes_490_1
Callable Fixed/Index Linked Rate
Yen/AUD Dual Currency Global
Notes_490_1
Callable Fixed/Index Linked Rate
Yen/AUD Dual Currency Global
Notes_490_1
Callable Fixed/Index Linked Rate
Yen/AUD Dual Currency Global
Notes_490_1
Callable Fixed/Index Linked Rate
Yen/AUD Dual Currency Global
Notes_490_1
Callable Fixed/Index Linked Rate
Yen/AUD Dual Currency Global
Notes_490_1
Callable Fixed/Index Linked Rate
Yen/AUD Dual Currency Global
Notes_490_1
Callable Fixed/Index Linked Rate
Yen/AUD Dual Currency Global
Notes_490_1
Callable Fixed/Index Linked Rate
Global Yen Notes_497_1
Callable Fixed/Index Linked Rate
Global Yen Notes_497_1
Callable Fixed/Index Linked Rate
Global Yen Notes_497_1
Callable Fixed/Index Linked Rate
Global Yen Notes_497_1
Callable Fixed/Index Linked Rate
Global Yen Notes_497_1
Callable Fixed/Index Linked Rate
Global Yen Notes_497_1
Callable Fixed/Index Linked Rate
Global Yen Notes_497_1
Callable Fixed/Index Linked Rate
Global Yen Notes_497_1

September 28, 2017
August 27, 2018
September 25, 2019
October 6, 2020
August 5, 2021
August 12, 2022
June 13, 2014
August 8, 2014
August 13, 2015
August 19, 2016
September 28, 2017
August 27, 2018
September 25, 2019
October 6, 2020
August 5, 2021
August 12, 2022

AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA

August 8, 2014

AAA

August 13, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

August 8, 2014

AAA

August 13, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

17/54

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Callable Fixed/Index Linked Rate
Global Yen Notes_497_1
Capped Callable Fixed/Index
Linked Rate Global Yen
Capped Callable Fixed/Index
Linked Rate Global Yen
Capped Callable Fixed/Index
Linked Rate Global Yen
Capped Callable Fixed/Index
Linked Rate Global Yen
Capped Callable Fixed/Index
Linked Rate Global Yen
Capped Callable Fixed/Index
Linked Rate Global Yen
Capped Callable Fixed/Index
Linked Rate Global Yen
Capped Callable Fixed/Index
Linked Rate Global Yen
Capped Callable Fixed/Index
Linked Rate Global Yen
Capped Callable Fixed/Index
Linked Rate Global Yen
Capped Callable Fixed/Index
Linked Rate Global Yen
Capped Callable Fixed/Index
Linked Rate Global Yen
Capped Callable Fixed/Index
Linked Rate Global Yen
Capped Callable Fixed/Index
Linked Rate Global Yen
Capped Callable Fixed/Index
Linked Rate Global Yen
Capped Callable Fixed/Index
Linked Rate Global Yen
Capped Callable Fixed/Index
Linked Rate Global Yen
Capped Callable Fixed/Index
Linked Rate Global Yen
Capped Callable Fixed/Index
Linked Rate Global Yen
Capped Callable Fixed/Index
Linked Rate Global Yen
Capped Callable Fixed/Index
Linked Rate Global Yen
Capped Callable Fixed/Index
Linked Rate Global Yen
Capped Callable Fixed/Index
Linked Rate Global Yen
Capped Callable Fixed/Index
Linked Rate Global Yen
Capped Callable Fixed/Index
Linked Rate Global Yen
Capped Callable Fixed/Index
Linked Rate Global Yen
Capped Callable Fixed/Index
Linked Rate Global Yen
Callable Fixed/Index Linked Rate
Global Yen Notes_500_1
Callable Fixed/Index Linked Rate
Global Yen Notes_500_1
18/54

Publication Date

RatingAugust 12, 2022

AAA

August 8, 2014

AAA

August 13, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

August 8, 2014

AAA

August 13, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

August 8, 2014

AAA

August 13, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

November 12, 2014

AAA

August 13, 2015

AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Callable Fixed/Index Linked Rate
Global Yen Notes_500_1
Callable Fixed/Index Linked Rate
Global Yen Notes_500_1
Callable Fixed/Index Linked Rate
Global Yen Notes_500_1
Callable Fixed/Index Linked Rate
Global Yen Notes_500_1
Callable Fixed/Index Linked Rate
Global Yen Notes_500_1
Callable Fixed/Index Linked Rate
Global Yen Notes_500_1
Callable Fixed/Index Linked Rate
Global Yen Notes_500_1
Callable Fixed/Index Linked Rate
Global Yen Notes_502_1
Callable Fixed/Index Linked Rate
Global Yen Notes_502_1
Callable Fixed/Index Linked Rate
Global Yen Notes_502_1
Callable Fixed/Index Linked Rate
Global Yen Notes_502_1
Callable Fixed/Index Linked Rate
Global Yen Notes_502_1
Callable Fixed/Index Linked Rate
Global Yen Notes_502_1
Callable Fixed/Index Linked Rate
Global Yen Notes_502_1
Callable Fixed/Index Linked Rate
Global Yen Notes_502_1
Callable Fixed/Index Linked Rate
Global Yen Notes_502_1
Callable Fixed/Index Linked Rate
Global Yen Notes_503_1
Callable Fixed/Index Linked Rate
Global Yen Notes_503_1
Callable Fixed/Index Linked Rate
Global Yen Notes_503_1
Callable Fixed/Index Linked Rate
Global Yen Notes_503_1
Callable Fixed/Index Linked Rate
Global Yen Notes_503_1
Callable Fixed/Index Linked Rate
Global Yen Notes_503_1
Callable Fixed/Index Linked Rate
Global Yen Notes_503_1
Callable Fixed/Index Linked Rate
Global Yen Notes_503_1
Callable Fixed/Index Linked Rate
Global Yen Notes_503_1
Zero Coupon TRY Global
Notes_509_1
Zero Coupon TRY Global
Notes_509_1
Zero Coupon TRY Global
Notes_509_1
Zero Coupon TRY Global
Notes_509_1
Zero Coupon TRY Global
Notes_509_1
19/54

Publication Date

RatingAugust 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

November 12, 2014

AAA

August 13, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

November 12, 2014

AAA

August 13, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

March 26, 2015

AAA

August 13, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018

AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Zero Coupon TRY Global
Notes_509_1
Zero Coupon TRY Global
Notes_509_1
Zero Coupon TRY Global
Notes_509_1
Zero Coupon TRY Global
Notes_509_1
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/AUD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/AUD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/AUD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/AUD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/AUD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/AUD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/AUD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/AUD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/AUD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Notes_514_1
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Notes_514_1

20/54

Publication Date

RatingSeptember 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

March 26, 2015

AAA

August 13, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

May 20, 2015

AAA

August 13, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

May 20, 2015

AAA

August 13, 2015

AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Notes_514_1
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Notes_514_1
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Notes_514_1
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Notes_514_1
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Notes_514_1
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Notes_514_1
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Notes_514_1
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Index Linked Rate
Global Yen Notes_519_1

21/54

Publication Date

RatingAugust 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

May 20, 2015

AAA

August 13, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

May 20, 2015

AAA

August 13, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

May 20, 2015

AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Callable Fixed/Index Linked Rate
Global Yen Notes_519_1
Callable Fixed/Index Linked Rate
Global Yen Notes_519_1
Callable Fixed/Index Linked Rate
Global Yen Notes_519_1
Callable Fixed/Index Linked Rate
Global Yen Notes_519_1
Callable Fixed/Index Linked Rate
Global Yen Notes_519_1
Callable Fixed/Index Linked Rate
Global Yen Notes_519_1
Callable Fixed/Index Linked Rate
Global Yen Notes_519_1
Callable Fixed/Index Linked Rate
Global Yen Notes_519_1
Fixed/Capped Index Linked Rate
Global Yen Notes_520_1
Fixed/Capped Index Linked Rate
Global Yen Notes_520_1
Fixed/Capped Index Linked Rate
Global Yen Notes_520_1
Fixed/Capped Index Linked Rate
Global Yen Notes_520_1
Fixed/Capped Index Linked Rate
Global Yen Notes_520_1
Fixed/Capped Index Linked Rate
Global Yen Notes_520_1
Fixed/Capped Index Linked Rate
Global Yen Notes_520_1
Fixed/Capped Index Linked Rate
Global Yen Notes_520_1
Fixed/Capped Index Linked Rate
Global Yen Notes_520_1
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen Notes
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen Notes
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen Notes
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen Notes
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen Notes
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen Notes
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen Notes
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen Notes
Zero Coupon BRL Global
Notes_523_1
22/54

Publication Date

RatingAugust 13, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

May 20, 2015

AAA

August 13, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

August 13, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

August 13, 2015

AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Zero Coupon BRL Global
Notes_523_1
Zero Coupon BRL Global
Notes_523_1
Zero Coupon BRL Global
Notes_523_1
Zero Coupon BRL Global
Notes_523_1
Zero Coupon BRL Global
Notes_523_1
Zero Coupon BRL Global
Notes_523_1
Zero Coupon BRL Global
Notes_523_1
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
23/54

Publication Date

RatingAugust 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

August 13, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

August 13, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

August 13, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Zero Coupon ZAR Global
Notes_532_1
Zero Coupon ZAR Global
Notes_532_1
Zero Coupon ZAR Global
Notes_532_1
Zero Coupon ZAR Global
Notes_532_1
Zero Coupon ZAR Global
Notes_532_1
Zero Coupon ZAR Global
Notes_532_1
Zero Coupon ZAR Global
Notes_532_1
Zero Coupon ZAR Global
Notes_532_1
US$ Global Notes_534_1
US$ Global Notes_534_1
US$ Global Notes_534_1
US$ Global Notes_534_1
US$ Global Notes_534_1
US$ Global Notes_534_1
US$ Global Notes_534_1
US$ Global Notes_534_1
Zero Coupon BRL Global
Notes_533_3
Zero Coupon BRL Global
Notes_533_3
Zero Coupon BRL Global
Notes_533_3
Zero Coupon BRL Global
Notes_533_3
Zero Coupon BRL Global
Notes_533_3
Zero Coupon BRL Global
Notes_533_3
Zero Coupon BRL Global
Notes_533_3
Zero Coupon BRL Global
Notes_533_3
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen

24/54

Publication Date

RatingAugust 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

August 13, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

August 13, 2015
August 19, 2016
September 28, 2017
August 27, 2018
September 25, 2019
October 6, 2020
August 5, 2021
August 12, 2022

AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA

November 18, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

November 18, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen
Callable Index Linked Rate
Global Yen Notes_537_1
Callable Index Linked Rate
Global Yen Notes_537_1
Callable Index Linked Rate
Global Yen Notes_537_1
Callable Index Linked Rate
Global Yen Notes_537_1
Callable Index Linked Rate
Global Yen Notes_537_1
Callable Index Linked Rate
Global Yen Notes_537_1
Callable Index Linked Rate
Global Yen Notes_537_1
Callable Index Linked Rate
Global Yen Notes_537_1
Callable Index Linked Rate
Global Yen Notes_543_1
Callable Index Linked Rate
Global Yen Notes_543_1

25/54

Publication Date

RatingAugust 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

November 18, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

November 18, 2015

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

February 19, 2016

AAA

August 19, 2016

AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Callable Index Linked Rate
Global Yen Notes_543_1
Callable Index Linked Rate
Global Yen Notes_543_1
Callable Index Linked Rate
Global Yen Notes_543_1
Callable Index Linked Rate
Global Yen Notes_543_1
Callable Index Linked Rate
Global Yen Notes_543_1
Callable Index Linked Rate
Global Yen Notes_543_1
Callable Fixed/Index Linked Rate
Global Yen Notes_545_1
Callable Fixed/Index Linked Rate
Global Yen Notes_545_1
Callable Fixed/Index Linked Rate
Global Yen Notes_545_1
Callable Fixed/Index Linked Rate
Global Yen Notes_545_1
Callable Fixed/Index Linked Rate
Global Yen Notes_545_1
Callable Fixed/Index Linked Rate
Global Yen Notes_545_1
Callable Fixed/Index Linked Rate
Global Yen Notes_545_1
Callable Fixed/Index Linked Rate
Global Yen Notes_545_1
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Callable Fixed/Capped Index
Linked Rate Global Yen
Zero Coupon BRL Global
Notes_557_1
Zero Coupon BRL Global
Notes_557_1
Zero Coupon BRL Global
Notes_557_1
Zero Coupon BRL Global
Notes_557_1
Zero Coupon BRL Global
Notes_557_1
Zero Coupon BRL Global
Notes_557_1
Zero Coupon BRL Global
Notes_557_1
Zero Coupon ZAR Global
Notes_565_1
Zero Coupon ZAR Global
Notes_565_1
26/54

Publication Date

RatingSeptember 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

February 19, 2016

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

August 19, 2016AAA

September 28, 2017

AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Zero Coupon ZAR Global
Notes_565_1
Zero Coupon ZAR Global
Notes_565_1
Zero Coupon ZAR Global
Notes_565_1
Zero Coupon ZAR Global
Notes_565_1
Zero Coupon ZAR Global
Notes_565_1
Callable Zero Coupon EUR
Global Notes_566_1
Callable Zero Coupon EUR
Global Notes_566_1
Callable Zero Coupon EUR
Global Notes_566_1
Callable Zero Coupon EUR
Global Notes_566_1
Callable Zero Coupon EUR
Global Notes_566_1
Callable Zero Coupon EUR
Global Notes_566_1
Callable Zero Coupon EUR
Global Notes_566_1
Callable Zero Coupon EUR
Global Notes_567_1
Callable Zero Coupon EUR
Global Notes_567_1
Callable Zero Coupon EUR
Global Notes_567_1
Callable Zero Coupon EUR
Global Notes_567_1
Callable Zero Coupon EUR
Global Notes_567_1
Callable Zero Coupon EUR
Global Notes_567_1
Callable Zero Coupon EUR
Global Notes_567_1
Callable Zero Coupon US$ Global
Notes_569_1
Callable Zero Coupon US$ Global
Notes_569_1
Callable Zero Coupon US$ Global
Notes_569_1
Callable Zero Coupon US$ Global
Notes_569_1
Callable Zero Coupon US$ Global
Notes_569_1
Callable Zero Coupon US$ Global
Notes_569_1
Callable Zero Coupon US$ Global
Notes_569_1
Callable Capped Index Linked
Rate Yen/US$ Dual Currency
Global Yen Notes_571_1
Callable Capped Index Linked
Rate Yen/US$ Dual Currency
Global Yen Notes_571_1

27/54

Publication Date

RatingAugust 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

August 19, 2016AAA

September 28, 2017

AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Callable Capped Index Linked
Rate Yen/US$ Dual Currency
Global Yen Notes_571_1
Callable Capped Index Linked
Rate Yen/US$ Dual Currency
Global Yen Notes_571_1
Callable Capped Index Linked
Rate Yen/US$ Dual Currency
Global Yen Notes_571_1
Callable Capped Index Linked
Rate Yen/US$ Dual Currency
Global Yen Notes_571_1
Callable Capped Index Linked
Rate Yen/US$ Dual Currency
Global Yen Notes_571_1
Callable Capped Index Linked
Rate Global Yen Notes_572_1
Callable Capped Index Linked
Rate Global Yen Notes_572_1
Callable Capped Index Linked
Rate Global Yen Notes_572_1
Callable Capped Index Linked
Rate Global Yen Notes_572_1
Callable Capped Index Linked
Rate Global Yen Notes_572_1
Callable Capped Index Linked
Rate Global Yen Notes_572_1
Callable Capped Index Linked
Rate Global Yen Notes_572_1
Callable Capped Fixed/Index
Linked Rate Yen/US$ Dual
Currency Global Yen
Callable Capped Fixed/Index
Linked Rate Yen/US$ Dual
Currency Global Yen
Callable Capped Fixed/Index
Linked Rate Yen/US$ Dual
Currency Global Yen
Callable Capped Fixed/Index
Linked Rate Yen/US$ Dual
Currency Global Yen
Callable Capped Fixed/Index
Linked Rate Yen/US$ Dual
Currency Global Yen
Callable Capped Fixed/Index
Linked Rate Yen/US$ Dual
Currency Global Yen
Callable Capped Fixed/Index
Linked Rate Yen/US$ Dual
Currency Global Yen
Callable Zero Coupon EUR
Global Notes_554_1
Callable Zero Coupon EUR
Global Notes_554_1
Callable Zero Coupon EUR
Global Notes_554_1
Callable Zero Coupon EUR
Global Notes_554_1
Callable Zero Coupon EUR
Global Notes_554_1
28/54

Publication Date

RatingAugust 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

August 19, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

September 30, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

September 30, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Publication Date

Callable Zero Coupon EUR
Global Notes_554_1
Callable Zero Coupon EUR
Global Notes_554_1
Callable Zero Coupon EUR
Global Notes_564_1
Callable Zero Coupon EUR
Global Notes_564_1
Callable Zero Coupon EUR
Global Notes_564_1
Callable Zero Coupon EUR
Global Notes_564_1
Callable Zero Coupon EUR
Global Notes_564_1
Callable Zero Coupon EUR
Global Notes_564_1
Callable Zero Coupon EUR
Global Notes_564_1
Callable Capped Fixed/Index
Linked Rate Yen/US$ Dual
Currency Global Yen
Callable Capped Fixed/Index
Linked Rate Yen/US$ Dual
Currency Global Yen
Callable Capped Fixed/Index
Linked Rate Yen/US$ Dual
Currency Global Yen
Callable Capped Fixed/Index
Linked Rate Yen/US$ Dual
Currency Global Yen
Callable Capped Fixed/Index
Linked Rate Yen/US$ Dual
Currency Global Yen
Callable Capped Fixed/Index
Linked Rate Yen/US$ Dual
Currency Global Yen
Callable Capped Fixed/Index
Linked Rate Yen/US$ Dual
Currency Global Yen
Zero Coupon ZAR Global
Notes_578_1
Zero Coupon ZAR Global
Notes_578_1
Zero Coupon ZAR Global
Notes_578_1
Zero Coupon ZAR Global
Notes_578_1
Zero Coupon ZAR Global
Notes_578_1
Zero Coupon ZAR Global
Notes_578_1
Zero Coupon ZAR Global
Notes_578_1
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen

29/54

RatingAugust 5, 2021

AAA

August 12, 2022

AAA

September 30, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

September 30, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

September 30, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

December 8, 2016AAA

September 28, 2017

AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen
EUR Global Notes_583_1
EUR Global Notes_583_1
EUR Global Notes_583_1
EUR Global Notes_583_1
EUR Global Notes_583_1
EUR Global Notes_583_1
EUR Global Notes_583_1
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen
Callable Fixed/Capped Index
Linked Rate Yen/USD Dual
Currency Global Yen
Zero Coupon ZAR Global
Notes_586_1
Zero Coupon ZAR Global
Notes_586_1
Zero Coupon ZAR Global
Notes_586_1
Zero Coupon ZAR Global
Notes_586_1
Zero Coupon ZAR Global
Notes_586_1
Zero Coupon ZAR Global
Notes_586_1
Zero Coupon ZAR Global
Notes_586_1
US$ Global Notes_589_1
US$ Global Notes_589_1
US$ Global Notes_589_1
30/54

Publication Date

RatingAugust 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

December 8, 2016
September 28, 2017
August 27, 2018
September 25, 2019
October 6, 2020
August 5, 2021
August 12, 2022

AAA
AAA
AAA
AAA
AAA
AAA
AAA

December 8, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

December 8, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

December 8, 2016
September 28, 2017
August 27, 2018

AAA
AAA
AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Publication Date

Rating

US$ Global Notes_589_1
US$ Global Notes_589_1
US$ Global Notes_589_1
US$ Global Notes_589_1
Callable Zero Coupon US$ Global
Notes_592_1
Callable Zero Coupon US$ Global
Notes_592_1
Callable Zero Coupon US$ Global
Notes_592_1
Callable Zero Coupon US$ Global
Notes_592_1
Callable Zero Coupon US$ Global
Notes_592_1
Callable Zero Coupon US$ Global
Notes_592_1
Callable Zero Coupon US$ Global
Notes_592_1
Callable Zero Coupon US$ Global
Notes_594_1
Callable Zero Coupon US$ Global
Notes_594_1
Callable Zero Coupon US$ Global
Notes_594_1
Callable Zero Coupon US$ Global
Notes_594_1
Callable Zero Coupon US$ Global
Notes_594_1
Callable Zero Coupon US$ Global
Notes_594_1
Callable Zero Coupon US$ Global
Notes_594_1
Callable Fixed/Capped FX Linked
Rate Yen/USD Dual Currency
Global Notes_595_1
Callable Fixed/Capped FX Linked
Rate Yen/USD Dual Currency
Global Notes_595_1
Callable Fixed/Capped FX Linked
Rate Yen/USD Dual Currency
Global Notes_595_1
Callable Fixed/Capped FX Linked
Rate Yen/USD Dual Currency
Global Notes_595_1
Callable Fixed/Capped FX Linked
Rate Yen/USD Dual Currency
Global Notes_595_1
Callable Fixed/Capped FX Linked
Rate Yen/USD Dual Currency
Global Notes_595_1
Callable Fixed/Capped FX Linked
Rate Yen/USD Dual Currency
Global Notes_595_1
Callable Fixed/Capped FX Linked
Rate Yen/USD Dual Currency
Global Notes_597_1
Callable Fixed/Capped FX Linked
Rate Yen/USD Dual Currency
Global Notes_597_1

September 25, 2019
October 6, 2020
August 5, 2021
August 12, 2022

AAA
AAA
AAA
AAA

December 8, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

December 8, 2016AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

February 15, 2017AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

February 15, 2017AAA

September 28, 2017

AAA

31/54

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Callable Fixed/Capped FX Linked
Rate Yen/USD Dual Currency
Global Notes_597_1
Callable Fixed/Capped FX Linked
Rate Yen/USD Dual Currency
Global Notes_597_1
Callable Fixed/Capped FX Linked
Rate Yen/USD Dual Currency
Global Notes_597_1
Callable Fixed/Capped FX Linked
Rate Yen/USD Dual Currency
Global Notes_597_1
Callable Fixed/Capped FX Linked
Rate Yen/USD Dual Currency
Global Notes_597_1
US$ Global Notes_600_1
US$ Global Notes_600_1
US$ Global Notes_600_1
US$ Global Notes_600_1
US$ Global Notes_600_1
US$ Global Notes_600_1
US$ Global Notes_600_1
Callable Fixed/Capped FX Linked
Rate Yen/USD Dual Currency
Global Notes_603_1
Callable Fixed/Capped FX Linked
Rate Yen/USD Dual Currency
Global Notes_603_1
Callable Fixed/Capped FX Linked
Rate Yen/USD Dual Currency
Global Notes_603_1
Callable Fixed/Capped FX Linked
Rate Yen/USD Dual Currency
Global Notes_603_1
Callable Fixed/Capped FX Linked
Rate Yen/USD Dual Currency
Global Notes_603_1
Callable Fixed/Capped FX Linked
Rate Yen/USD Dual Currency
Global Notes_603_1
Callable Fixed/Capped FX Linked
Rate Yen/USD Dual Currency
Global Notes_603_1
Callable Fixed/Capped FX Linked
Rate Yen/USD Dual Currency
Global Notes_608_1
Callable Fixed/Capped FX Linked
Rate Yen/USD Dual Currency
Global Notes_608_1
Callable Fixed/Capped FX Linked
Rate Yen/USD Dual Currency
Global Notes_608_1
Callable Fixed/Capped FX Linked
Rate Yen/USD Dual Currency
Global Notes_608_1
Callable Fixed/Capped FX Linked
Rate Yen/USD Dual Currency
Global Notes_608_1

32/54

Publication Date

RatingAugust 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

February 15, 2017
September 28, 2017
August 27, 2018
September 25, 2019
October 6, 2020
August 5, 2021
August 12, 2022

AAA
AAA
AAA
AAA
AAA
AAA
AAA

February 15, 2017AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

February 15, 2017AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Publication Date

Callable Fixed/Capped FX Linked
Rate Yen/USD Dual Currency
Global Notes_608_1
Callable Fixed/Capped FX Linked
Rate Yen/USD Dual Currency
Global Notes_608_1
EUR Global Notes_610_2
EUR Global Notes_610_2
EUR Global Notes_610_2
EUR Global Notes_610_2
EUR Global Notes_610_2
EUR Global Notes_610_2
EUR Global Notes_610_2
Zero Coupon RUB Global
Notes_620_1
Zero Coupon RUB Global
Notes_620_1
Zero Coupon RUB Global
Notes_620_1
Zero Coupon RUB Global
Notes_620_1
Zero Coupon RUB Global
Notes_620_1
Zero Coupon RUB Global
Notes_620_1
Zero Coupon RUB Global
Notes_620_1
Callable Fixed/Index Linked Rate
Yen/USD Dual Currency Global
Notes_625_1
Callable Fixed/Index Linked Rate
Yen/USD Dual Currency Global
Notes_625_1
Callable Fixed/Index Linked Rate
Yen/USD Dual Currency Global
Notes_625_1
Callable Fixed/Index Linked Rate
Yen/USD Dual Currency Global
Notes_625_1
Callable Fixed/Index Linked Rate
Yen/USD Dual Currency Global
Notes_625_1
Callable Fixed/Index Linked Rate
Yen/USD Dual Currency Global
Notes_625_1
Callable Fixed/Index Linked Rate
Yen/USD Dual Currency Global
Notes_625_1
Callable Fixed/Index Linked
Global Yen Notes_627_1
Callable Fixed/Index Linked
Global Yen Notes_627_1
Callable Fixed/Index Linked
Global Yen Notes_627_1
Callable Fixed/Index Linked
Global Yen Notes_627_1
Callable Fixed/Index Linked
Global Yen Notes_627_1
Callable Fixed/Index Linked
Global Yen Notes_627_1
33/54

RatingAugust 5, 2021

AAA

August 12, 2022

AAA

June 29, 2017
September 28, 2017
August 27, 2018
September 25, 2019
October 6, 2020
August 5, 2021
August 12, 2022

AAA
AAA
AAA
AAA
AAA
AAA
AAA

June 29, 2017AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

June 29, 2017AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

June 29, 2017AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Callable Fixed/Index Linked
Global Yen Notes_627_1
Callable Fixed/Index Linked
Global Yen Notes_640_1
Callable Fixed/Index Linked
Global Yen Notes_640_1
Callable Fixed/Index Linked
Global Yen Notes_640_1
Callable Fixed/Index Linked
Global Yen Notes_640_1
Callable Fixed/Index Linked
Global Yen Notes_640_1
Callable Fixed/Index Linked
Global Yen Notes_640_1
Callable Fixed/Index Linked
Global Yen Notes_640_1
ZAR Discount Global
ZAR Discount Global
ZAR Discount Global
ZAR Discount Global
ZAR Discount Global
ZAR Discount Global
ZAR Discount Global
Callable Fixed/Index Linked Rate
Yen/USD Dual Currency Global
Notes_647_1
Callable Fixed/Index Linked Rate
Yen/USD Dual Currency Global
Notes_647_1
Callable Fixed/Index Linked Rate
Yen/USD Dual Currency Global
Notes_647_1
Callable Fixed/Index Linked Rate
Yen/USD Dual Currency Global
Notes_647_1
Callable Fixed/Index Linked Rate
Yen/USD Dual Currency Global
Notes_647_1
Callable Fixed/Index Linked Rate
Yen/USD Dual Currency Global
Notes_647_1
Callable Fixed/Index Linked Rate
Yen/USD Dual Currency Global
Notes_647_1
Callable Fixed/Index Linked
Global Yen Notes_648_1
Callable Fixed/Index Linked
Global Yen Notes_648_1
Callable Fixed/Index Linked
Global Yen Notes_648_1
Callable Fixed/Index Linked
Global Yen Notes_648_1
Callable Fixed/Index Linked
Global Yen Notes_648_1
Callable Fixed/Index Linked
Global Yen Notes_648_1
Callable Fixed/Index Linked
Global Yen Notes_648_1
Callable Zero Coupon US$ Global
Notes_652_1
34/54

Publication Date

RatingAugust 12, 2022

AAA

June 29, 2017AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

June 29, 2017
September 28, 2017
August 27, 2018
September 25, 2019
October 6, 2020
August 5, 2021
August 12, 2022

AAA
AAA
AAA
AAA
AAA
AAA
AAA

June 29, 2017AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

June 29, 2017AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

June 29, 2017

AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Callable Zero Coupon US$ Global
Notes_652_1
Callable Zero Coupon US$ Global
Notes_652_1
Callable Zero Coupon US$ Global
Notes_652_1
Callable Zero Coupon US$ Global
Notes_652_1
Callable Zero Coupon US$ Global
Notes_652_1
Callable Zero Coupon US$ Global
Notes_652_1
Fixed/Index Linked Global Yen
Notes_664_1
Fixed/Index Linked Global Yen
Notes_664_1
Fixed/Index Linked Global Yen
Notes_664_1
Fixed/Index Linked Global Yen
Notes_664_1
Fixed/Index Linked Global Yen
Notes_664_1
Fixed/Index Linked Global Yen
Notes_664_1
Fixed/Index Linked Global Yen
Notes_664_1
Callable Zero Coupon EUR
Global Notes_671_1
Callable Zero Coupon EUR
Global Notes_671_1
Callable Zero Coupon EUR
Global Notes_671_1
Callable Zero Coupon EUR
Global Notes_671_1
Callable Zero Coupon EUR
Global Notes_671_1
Callable Zero Coupon EUR
Global Notes_671_1
Callable Zero Coupon EUR
Global Notes_671_1
Callable Fixed/Capped Index
Linked Rate Yen/AUD Dual
Currency Global Notes_673_1
Callable Fixed/Capped Index
Linked Rate Yen/AUD Dual
Currency Global Notes_673_1
Callable Fixed/Capped Index
Linked Rate Yen/AUD Dual
Currency Global Notes_673_1
Callable Fixed/Capped Index
Linked Rate Yen/AUD Dual
Currency Global Notes_673_1
Callable Fixed/Capped Index
Linked Rate Yen/AUD Dual
Currency Global Notes_673_1
Callable Fixed/Capped Index
Linked Rate Yen/AUD Dual
Currency Global Notes_673_1

35/54

Publication Date

RatingSeptember 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

June 29, 2017AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

June 29, 2017AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Callable Fixed/Capped FX Linked
Interest Rate Yen/USD Dual
Currency Global Notes_678_1
Callable Fixed/Capped FX Linked
Interest Rate Yen/USD Dual
Currency Global Notes_678_1
Callable Fixed/Capped FX Linked
Interest Rate Yen/USD Dual
Currency Global Notes_678_1
Callable Fixed/Capped FX Linked
Interest Rate Yen/USD Dual
Currency Global Notes_678_1
Callable Fixed/Capped FX Linked
Interest Rate Yen/USD Dual
Currency Global Notes_678_1
Callable Fixed/Capped FX Linked
Interest Rate Yen/USD Dual
Currency Global Notes_678_1
Callable Fixed/FX Linked Global
Yen Notes_679_1
Callable Fixed/FX Linked Global
Yen Notes_679_1
Callable Fixed/FX Linked Global
Yen Notes_679_1
Callable Fixed/FX Linked Global
Yen Notes_679_1
Callable Fixed/FX Linked Global
Yen Notes_679_1
Callable Fixed/FX Linked Global
Yen Notes_679_1
Callable US$ Global Notes_684_1
Callable US$ Global Notes_684_1
Callable US$ Global Notes_684_1
Callable US$ Global Notes_684_1
Callable US$ Global Notes_684_1
Callable US$ Global Notes_684_1
Zero Coupon TRY Global
Notes_685_2
Zero Coupon TRY Global
Notes_685_2
Zero Coupon TRY Global
Notes_685_2
Zero Coupon TRY Global
Notes_685_2
Zero Coupon TRY Global
Notes_685_2
Zero Coupon TRY Global
Notes_685_2
Callable Fixed/FX Linked Global
Yen Notes_696_1
Callable Fixed/FX Linked Global
Yen Notes_696_1
Callable Fixed/FX Linked Global
Yen Notes_696_1
Callable Fixed/FX Linked Global
Yen Notes_696_1
Callable Fixed/FX Linked Global
Yen Notes_696_1
Callable Fixed/FX Linked Global
Yen Notes_696_1
36/54

Publication Date

RatingSeptember 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

September 28, 2017
August 27, 2018
September 25, 2019
October 6, 2020
August 5, 2021
August 12, 2022

AAA
AAA
AAA
AAA
AAA
AAA

September 28, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

December 21, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Publication Date

Rating

A$ Global Notes_697_3
A$ Global Notes_697_3
A$ Global Notes_697_3
A$ Global Notes_697_3
A$ Global Notes_697_3
A$ Global Notes_697_3
Zero Coupon EUR Global
Notes_700_1
Zero Coupon EUR Global
Notes_700_1
Zero Coupon EUR Global
Notes_700_1
Zero Coupon EUR Global
Notes_700_1
Zero Coupon EUR Global
Notes_700_1
Zero Coupon EUR Global
Notes_700_1
A$ Global Notes_704_1
A$ Global Notes_704_1
A$ Global Notes_704_1
A$ Global Notes_704_1
A$ Global Notes_704_1
A$ Global Notes_704_1
Callable Capped Index linked
Yen/US$ Dual Currency Global
Callable Capped Index linked
Yen/US$ Dual Currency Global
Callable Capped Index linked
Yen/US$ Dual Currency Global
Callable Capped Index linked
Yen/US$ Dual Currency Global
Callable Capped Index linked
Yen/US$ Dual Currency Global
Callable Capped Index linked
Yen/US$ Dual Currency Global
Callable EUR Global
Callable EUR Global
Callable EUR Global
Callable EUR Global
Callable EUR Global
Callable EUR Global
Callable Variable Interest Rate
Variable Redemption Global Yen
Notes_713_1
Callable Variable Interest Rate
Variable Redemption Global Yen
Notes_713_1
Callable Variable Interest Rate
Variable Redemption Global Yen
Notes_713_1
Callable Variable Interest Rate
Variable Redemption Global Yen
Notes_713_1
Callable Variable Interest Rate
Variable Redemption Global Yen
Notes_713_1
Callable Variable Interest Rate
Variable Redemption Global Yen
Notes_713_1

December 21, 2017
August 27, 2018
September 25, 2019
October 6, 2020
August 5, 2021
August 12, 2022

AAA
AAA
AAA
AAA
AAA
AAA

December 21, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

December 21, 2017
August 27, 2018
September 25, 2019
October 6, 2020
August 5, 2021
August 12, 2022

AAA
AAA
AAA
AAA
AAA
AAA

December 21, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

December 21, 2017
August 27, 2018
September 25, 2019
October 6, 2020
August 5, 2021
August 12, 2022

AAA
AAA
AAA
AAA
AAA
AAA

December 21, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

37/54

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Callable Fixed Rate/Index Linked
Rate Global Yen Note_714
Callable Fixed Rate/Index Linked
Rate Global Yen Note_714
Callable Fixed Rate/Index Linked
Rate Global Yen Note_714
Callable Fixed Rate/Index Linked
Rate Global Yen Note_714
Callable Fixed Rate/Index Linked
Rate Global Yen Note_714
Callable Fixed Rate/Index Linked
Rate Global Yen Note_714
Callable Fixed/Capped FX Linked
Rate Global Yen Notes_715_1
Callable Fixed/Capped FX Linked
Rate Global Yen Notes_715_1
Callable Fixed/Capped FX Linked
Rate Global Yen Notes_715_1
Callable Fixed/Capped FX Linked
Rate Global Yen Notes_715_1
Callable Fixed/Capped FX Linked
Rate Global Yen Notes_715_1
Callable Fixed/Capped FX Linked
Rate Global Yen Notes_715_1
EUR Global Notes_718_1
EUR Global Notes_718_1
EUR Global Notes_718_1
EUR Global Notes_718_1
EUR Global Notes_718_1
EUR Global Notes_718_1
AUD Global Notes_609_16
AUD Global Notes_609_16
AUD Global Notes_609_16
AUD Global Notes_609_16
AUD Global Notes_609_16
AUD Global Notes_609_16
Zero Coupon TRY Global
Notes_716_4
Zero Coupon TRY Global
Notes_716_4
Zero Coupon TRY Global
Notes_716_4
Zero Coupon TRY Global
Notes_716_4
Zero Coupon TRY Global
Notes_716_4
Zero Coupon TRY Global
Notes_716_4
SEK Global Notes_723_2
SEK Global Notes_723_2
SEK Global Notes_723_2
SEK Global Notes_723_2
SEK Global Notes_723_2
SEK Global Notes_723_2
AUD Global Notes_728_1
AUD Global Notes_728_1
AUD Global Notes_728_1
AUD Global Notes_728_1
AUD Global Notes_728_1
AUD Global Notes_728_1
38/54

Publication Date

RatingDecember 21, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

December 21, 2017

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

December 21, 2017
August 27, 2018
September 25, 2019
October 6, 2020
August 5, 2021
August 12, 2022
April 11, 2018
August 27, 2018
September 25, 2019
October 6, 2020
August 5, 2021
August 12, 2022

AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA

April 11, 2018

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

April 11, 2018
August 27, 2018
September 25, 2019
October 6, 2020
August 5, 2021
August 12, 2022
April 11, 2018
August 27, 2018
September 25, 2019
October 6, 2020
August 5, 2021
August 12, 2022

AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Publication Date

Callable Fixed/Capped FX Linked
Interest Rate JPY/USD Dual
Currency Global Notes_733_1
Callable Fixed/Capped FX Linked
Interest Rate JPY/USD Dual
Currency Global Notes_733_1
Callable Fixed/Capped FX Linked
Interest Rate JPY/USD Dual
Currency Global Notes_733_1
Callable Fixed/Capped FX Linked
Interest Rate JPY/USD Dual
Currency Global Notes_733_1
Callable Fixed/Capped FX Linked
Interest Rate JPY/USD Dual
Currency Global Notes_733_1
Callable Fixed/Capped FX Linked
Interest Rate JPY/USD Dual
Currency Global Notes_733_1
Fixed Rate/Powered-Reverse JPY
Global Notes_736
Fixed Rate/Powered-Reverse JPY
Global Notes_736
Fixed Rate/Powered-Reverse JPY
Global Notes_736
Fixed Rate/Powered-Reverse JPY
Global Notes_736
Fixed Rate/Powered-Reverse JPY
Global Notes_736
Fixed Rate/Powered-Reverse JPY
Global Notes_736
Callable FX Linked JPY Global
Notes_738_1
Callable FX Linked JPY Global
Notes_738_1
Callable FX Linked JPY Global
Notes_738_1
Callable FX Linked JPY Global
Notes_738_1
Callable FX Linked JPY Global
Notes_738_1
Callable FX Linked JPY Global
Notes_738_1
Callable Fixed/Capped FX Linked
Interest Rate JPY/USD Dual
Currency Global Notes_741_1
Callable Fixed/Capped FX Linked
Interest Rate JPY/USD Dual
Currency Global Notes_741_1
Callable Fixed/Capped FX Linked
Interest Rate JPY/USD Dual
Currency Global Notes_741_1
Callable Fixed/Capped FX Linked
Interest Rate JPY/USD Dual
Currency Global Notes_741_1
Callable Fixed/Capped FX Linked
Interest Rate JPY/USD Dual
Currency Global Notes_741_1
Callable Fixed/Capped FX Linked
Interest Rate JPY/USD Dual
Currency Global Notes_741_1
39/54

RatingApril 11, 2018

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

April 11, 2018

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

April 11, 2018

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

April 11, 2018

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Callable Fixed/FX Index Linked
Interest Rate JPY/USD Dual
Currency JPY Global
Callable Fixed/FX Index Linked
Interest Rate JPY/USD Dual
Currency JPY Global
Callable Fixed/FX Index Linked
Interest Rate JPY/USD Dual
Currency JPY Global
Callable Fixed/FX Index Linked
Interest Rate JPY/USD Dual
Currency JPY Global
Callable Fixed/FX Index Linked
Interest Rate JPY/USD Dual
Currency JPY Global
Callable Fixed/Index Linked
Interest Rate JPY/USD Dual
Currency JPY Global
Callable Fixed/Index Linked
Interest Rate JPY/USD Dual
Currency JPY Global
Callable Fixed/Index Linked
Interest Rate JPY/USD Dual
Currency JPY Global
Callable Fixed/Index Linked
Interest Rate JPY/USD Dual
Currency JPY Global
Callable Fixed/Index Linked
Interest Rate JPY/USD Dual
Currency JPY Global
USD Floating Interest Rate Global
Notes_755_1
USD Floating Interest Rate Global
Notes_755_1
USD Floating Interest Rate Global
Notes_755_1
USD Floating Interest Rate Global
Notes_755_1
USD Floating Interest Rate Global
Notes_755_1
SEK Global Notes_761_1
SEK Global Notes_761_1
SEK Global Notes_761_1
SEK Global Notes_761_1
SEK Global Notes_761_1
Callable Fixed/FX Linked Interest
Rate JPY/USD Dual Currency
JPY Global Notes_775_1
Callable Fixed/FX Linked Interest
Rate JPY/USD Dual Currency
JPY Global Notes_775_1
Callable Fixed/FX Linked Interest
Rate JPY/USD Dual Currency
JPY Global Notes_775_1
Callable Fixed/FX Linked Interest
Rate JPY/USD Dual Currency
JPY Global Notes_775_1
Callable Fixed/FX Linked Interest
Rate JPY/USD Dual Currency
JPY Global Notes_775_1
40/54

Publication Date

RatingAugust 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

August 27, 2018
September 25, 2019
October 6, 2020
August 5, 2021
August 12, 2022

AAA
AAA
AAA
AAA
AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Callable Fixed/FX Linked Interest
Rate/FX Linked Redemption JPY
Global Notes_778_1
Callable Fixed/FX Linked Interest
Rate/FX Linked Redemption JPY
Global Notes_778_1
Callable Fixed/FX Linked Interest
Rate/FX Linked Redemption JPY
Global Notes_778_1
Callable Fixed/FX Linked Interest
Rate/FX Linked Redemption JPY
Global Notes_778_1
Callable Fixed/FX Linked Interest
Rate/FX Linked Redemption JPY
Global Notes_778_1
Callable FX Linked Interest
Rate/FX Linked Redemption JPY
Global Notes_785_1
Callable FX Linked Interest
Rate/FX Linked Redemption JPY
Global Notes_785_1
Callable FX Linked Interest
Rate/FX Linked Redemption JPY
Global Notes_785_1
Callable FX Linked Interest
Rate/FX Linked Redemption JPY
Global Notes_785_1
Callable FX Linked Interest
Rate/FX Linked Redemption JPY
Global Notes_785_1
Callable Fixed/Capped FX Linked
Interest Rate JPY/USD Dual
Currency JPY Global
Callable Fixed/Capped FX Linked
Interest Rate JPY/USD Dual
Currency JPY Global
Callable Fixed/Capped FX Linked
Interest Rate JPY/USD Dual
Currency JPY Global
Callable Fixed/Capped FX Linked
Interest Rate JPY/USD Dual
Currency JPY Global
Callable Fixed/Capped FX Linked
Interest Rate JPY/USD Dual
Currency JPY Global
Callable FX Linked Interest
Rate/FX Linked Redemption JPY
Global Notes_792_1
Callable FX Linked Interest
Rate/FX Linked Redemption JPY
Global Notes_792_1
Callable FX Linked Interest
Rate/FX Linked Redemption JPY
Global Notes_792_1
Callable FX Linked Interest
Rate/FX Linked Redemption JPY
Global Notes_792_1
Callable FX Linked Interest
Rate/FX Linked Redemption JPY
Global Notes_792_1
41/54

Publication Date

RatingAugust 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

August 27, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Publication Date

Rating

SEK Global Notes_693_3
SEK Global Notes_693_3
SEK Global Notes_693_3
SEK Global Notes_693_3
SEK Global Notes_693_3
AUD Global Notes_797_1
AUD Global Notes_797_1
AUD Global Notes_797_1
AUD Global Notes_797_1
AUD Global Notes_797_1
Callable Fixed/Capped FX Linked
Rate JPY/USD Dual Currency
Global JPY Notes_803_1
Callable Fixed/Capped FX Linked
Rate JPY/USD Dual Currency
Global JPY Notes_803_1
Callable Fixed/Capped FX Linked
Rate JPY/USD Dual Currency
Global JPY Notes_803_1
Callable Fixed/Capped FX Linked
Rate JPY/USD Dual Currency
Global JPY Notes_803_1
Callable Fixed/Capped FX Linked
Rate JPY/USD Dual Currency
Global JPY Notes_803_1
Zero Coupon MXN Global
Notes_805_1
Zero Coupon MXN Global
Notes_805_1
Zero Coupon MXN Global
Notes_805_1
Zero Coupon MXN Global
Notes_805_1
Zero Coupon MXN Global
Notes_805_1
USD Global Notes_806_1
USD Global Notes_806_1
USD Global Notes_806_1
USD Global Notes_806_1
USD Global Notes_806_1
INR Global Notes_808_1
INR Global Notes_808_1
INR Global Notes_808_1
INR Global Notes_808_1
INR Global Notes_808_1
Callable Fixed/Capped FX Linked
Rate JPY/USD Dual Currency
Global JPY Notes_812_1
Callable Fixed/Capped FX Linked
Rate JPY/USD Dual Currency
Global JPY Notes_812_1
Callable Fixed/Capped FX Linked
Rate JPY/USD Dual Currency
Global JPY Notes_812_1
Callable Fixed/Capped FX Linked
Rate JPY/USD Dual Currency
Global JPY Notes_812_1
Callable Fixed/Capped FX Linked
Rate JPY/USD Dual Currency
Global JPY Notes_812_1

December 17, 2018
September 25, 2019
October 6, 2020
August 5, 2021
August 12, 2022
December 17, 2018
September 25, 2019
October 6, 2020
August 5, 2021
August 12, 2022

AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA

December 17, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

December 17, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

December 17, 2018
September 25, 2019
October 6, 2020
August 5, 2021
August 12, 2022
December 17, 2018
September 25, 2019
October 6, 2020
August 5, 2021
August 12, 2022

AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA

December 17, 2018AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

42/54

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Publication Date

Zero Coupon MXN Global
Notes_617_11
Zero Coupon MXN Global
Notes_617_11
Zero Coupon MXN Global
Notes_617_11
Zero Coupon MXN Global
Notes_617_11
Zero Coupon MXN Global
Notes_617_11
Callable EUR Global
Callable EUR Global
Callable EUR Global
Callable EUR Global
Callable EUR Global
USD Global Notes_828_1
USD Global Notes_828_1
USD Global Notes_828_1
USD Global Notes_828_1
USD Global Notes_828_1
AUD Global Notes_835_1
AUD Global Notes_835_1
AUD Global Notes_835_1
AUD Global Notes_835_1
AUD Global Notes_835_1
USD Global Notes_836_1
USD Global Notes_836_1
USD Global Notes_836_1
USD Global Notes_836_1
USD Global Notes_836_1
BRL Global Notes_838_1
BRL Global Notes_838_1
BRL Global Notes_838_1
BRL Global Notes_838_1
BRL Global Notes_838_1
Callable FX Linked Rate Global
JPY Notes_839_1
Callable FX Linked Rate Global
JPY Notes_839_1
Callable FX Linked Rate Global
JPY Notes_839_1
Callable FX Linked Rate Global
JPY Notes_839_1
Callable FX Linked Rate Global
JPY Notes_839_1
Callable FX Linked Interest
Rate/FX Linked Redemption JPY
Global Notes_842_1
Callable FX Linked Interest
Rate/FX Linked Redemption JPY
Global Notes_842_1
Callable FX Linked Interest
Rate/FX Linked Redemption JPY
Global Notes_842_1
Callable FX Linked Interest
Rate/FX Linked Redemption JPY
Global Notes_842_1
Callable FX Linked Interest
Rate/FX Linked Redemption JPY
Global Notes_842_1
43/54

RatingMay 29, 2019AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

May 29, 2019
September 25, 2019
October 6, 2020
August 5, 2021
August 12, 2022
May 29, 2019
September 25, 2019
October 6, 2020
August 5, 2021
August 12, 2022
May 29, 2019
September 25, 2019
October 6, 2020
August 5, 2021
August 12, 2022
May 29, 2019
September 25, 2019
October 6, 2020
August 5, 2021
August 12, 2022
May 29, 2019
September 25, 2019
October 6, 2020
August 5, 2021
August 12, 2022

AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA

May 29, 2019AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

May 29, 2019AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Publication Date

RatingNZD Global Notes_844_1
NZD Global Notes_844_1
NZD Global Notes_844_1
NZD Global Notes_844_1
NZD Global Notes_844_1
NZD Global Notes_845_1
NZD Global Notes_845_1
NZD Global Notes_845_1
NZD Global Notes_845_1
NZD Global Notes_845_1
Callable Fixed/FX Linked Rate
Global JPY Notes_846_1
Callable Fixed/FX Linked Rate
Global JPY Notes_846_1
Callable Fixed/FX Linked Rate
Global JPY Notes_846_1
Callable Fixed/FX Linked Rate
Global JPY Notes_846_1
Callable Fixed/FX Linked Rate
Global JPY Notes_846_1
AUD Global Notes_849_1
AUD Global Notes_849_1
AUD Global Notes_849_1
AUD Global Notes_849_1
AUD Global Notes_849_1
USD Global Notes_850_1
USD Global Notes_850_1
USD Global Notes_850_1
USD Global Notes_850_1
USD Global Notes_850_1
EUR Global Notes_852_1
EUR Global Notes_852_1
EUR Global Notes_852_1
EUR Global Notes_852_1
EUR Global Notes_852_1
Callable Capped FX Linked Rate
JPY/USD Dual Currency Global
Notes_854_1
Callable Capped FX Linked Rate
JPY/USD Dual Currency Global
Notes_854_1
Callable Capped FX Linked Rate
JPY/USD Dual Currency Global
Notes_854_1
Callable Capped FX Linked Rate
JPY/USD Dual Currency Global
Notes_854_1
Callable Capped FX Linked Rate
JPY/USD Dual Currency Global
Notes_854_1
SEK Global Notes_855_1
SEK Global Notes_855_1
SEK Global Notes_855_1
SEK Global Notes_855_1
SEK Global Notes_855_1
BRL Global Notes_856_1
BRL Global Notes_856_1
BRL Global Notes_856_1
BRL Global Notes_856_1
BRL Global Notes_856_1

May 29, 2019
September 25, 2019
October 6, 2020
August 5, 2021
August 12, 2022
May 29, 2019
September 25, 2019
October 6, 2020
August 5, 2021
August 12, 2022

AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA

May 29, 2019AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

May 29, 2019
September 25, 2019
October 6, 2020
August 5, 2021
August 12, 2022
May 29, 2019
September 25, 2019
October 6, 2020
August 5, 2021
August 12, 2022
May 29, 2019
September 25, 2019
October 6, 2020
August 5, 2021
August 12, 2022

AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA

May 29, 2019AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

May 29, 2019
September 25, 2019
October 6, 2020
August 5, 2021
August 12, 2022
May 29, 2019
September 25, 2019
October 6, 2020
August 5, 2021
August 12, 2022

AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA

44/54

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Callable Fixed/Capped FX Linked
Global JPY Notes_867_1
Callable Fixed/Capped FX Linked
Global JPY Notes_867_1
Callable Fixed/Capped FX Linked
Global JPY Notes_867_1
Callable Fixed/Capped FX Linked
Global JPY Notes_867_1
USD Global Notes_869_1
USD Global Notes_869_1
USD Global Notes_869_1
USD Global Notes_869_1
Zero Coupon TRY Global
Notes_873_1
Zero Coupon TRY Global
Notes_873_1
Zero Coupon TRY Global
Notes_873_1
Zero Coupon TRY Global
Notes_873_1
Callable Variable Interest
Rate/Variable Redemption Global
JPY Notes_874_1
Callable Variable Interest
Rate/Variable Redemption Global
JPY Notes_874_1
Callable Variable Interest
Rate/Variable Redemption Global
JPY Notes_874_1
Callable Variable Interest
Rate/Variable Redemption Global
JPY Notes_874_1
Zero Coupon TRY Global
Notes_877_1
Zero Coupon TRY Global
Notes_877_1
Zero Coupon TRY Global
Notes_877_1
Zero Coupon TRY Global
Notes_877_1
Zero Coupon RUB Global
Notes_881_1
Zero Coupon RUB Global
Notes_881_1
Zero Coupon RUB Global
Notes_881_1
Zero Coupon RUB Global
Notes_881_1
TRY Global Notes_885_1
TRY Global Notes_885_1
TRY Global Notes_885_1
TRY Global Notes_885_1
Zero Coupon TRY Global
Notes_886_1
Zero Coupon TRY Global
Notes_886_1
Zero Coupon TRY Global
Notes_886_1
Zero Coupon TRY Global
Notes_886_1
45/54

Publication Date

RatingSeptember 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

September 25, 2019
October 6, 2020
August 5, 2021
August 12, 2022

AAA
AAA
AAA
AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

September 25, 2019
October 6, 2020
August 5, 2021
August 12, 2022

AAA
AAA
AAA
AAA

September 25, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Publication Date

Rating

USD Global Notes_890_1
USD Global Notes_890_1
USD Global Notes_890_1
USD Global Notes_890_1
Zero Coupon TRY Global
Notes_813_5
Zero Coupon TRY Global
Notes_813_5
Zero Coupon TRY Global
Notes_813_5
Zero Coupon TRY Global
Notes_813_5
SEK Global Notes_858_2
SEK Global Notes_858_2
SEK Global Notes_858_2
SEK Global Notes_858_2
Zero Coupon TRY Global
Notes_884_2
Zero Coupon TRY Global
Notes_884_2
Zero Coupon TRY Global
Notes_884_2
Zero Coupon TRY Global
Notes_884_2
Zero Coupon TRY Global
Notes_887_1
Zero Coupon TRY Global
Notes_887_1
Zero Coupon TRY Global
Notes_887_1
Zero Coupon TRY Global
Notes_887_1
INR Global Notes_891_1
INR Global Notes_891_1
INR Global Notes_891_1
INR Global Notes_891_1
TRY Global Notes_892_1
TRY Global Notes_892_1
TRY Global Notes_892_1
TRY Global Notes_892_1
Zero Coupon ZAR Global
Notes_899_1
Zero Coupon ZAR Global
Notes_899_1
Zero Coupon ZAR Global
Notes_899_1
Zero Coupon ZAR Global
Notes_899_1
Callable Fixed/Index Linked Rate
Powered-Reverse Global JPY
Notes_902
Callable Fixed/Index Linked Rate
Powered-Reverse Global JPY
Notes_902
Callable Fixed/Index Linked Rate
Powered-Reverse Global JPY
Notes_902
Callable Fixed/Index Linked Rate
Powered-Reverse Global JPY
Notes_902

September 25, 2019
October 6, 2020
August 5, 2021
August 12, 2022

AAA
AAA
AAA
AAA

December 10, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

December 10, 2019
October 6, 2020
August 5, 2021
August 12, 2022

AAA
AAA
AAA
AAA

December 10, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

December 10, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

December 10, 2019
October 6, 2020
August 5, 2021
August 12, 2022
December 10, 2019
October 6, 2020
August 5, 2021
August 12, 2022

AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA

December 10, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

December 10, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

46/54

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Callable Variable Interest
JPY/USD Dual Currency Global
Callable Variable Interest
JPY/USD Dual Currency Global
Callable Variable Interest
JPY/USD Dual Currency Global
Callable Variable Interest
JPY/USD Dual Currency Global
Zero Coupon INR Global
Notes_906_1
Zero Coupon INR Global
Notes_906_1
Zero Coupon INR Global
Notes_906_1
Zero Coupon INR Global
Notes_906_1
Zero Coupon ZAR Global
Notes_910_1
Zero Coupon ZAR Global
Notes_910_1
Zero Coupon ZAR Global
Notes_910_1
Zero Coupon ZAR Global
Notes_910_1
Zero Coupon INR Global
Notes_658_12
Zero Coupon INR Global
Notes_658_12
Zero Coupon INR Global
Notes_658_12
Zero Coupon INR Global
Notes_658_12
ZAR Global Notes_907_2
ZAR Global Notes_907_2
ZAR Global Notes_907_2
ZAR Global Notes_907_2
Zero Coupon ZAR Global
Notes_914_1
Zero Coupon ZAR Global
Notes_914_1
Zero Coupon ZAR Global
Notes_914_1
Zero Coupon ZAR Global
Notes_914_1
TRY Global Notes_916_1
TRY Global Notes_916_1
TRY Global Notes_916_1
TRY Global Notes_916_1
Callable FX Linked JPY Global
Notes_926_1
Callable FX Linked JPY Global
Notes_926_1
Callable FX Linked JPY Global
Notes_926_1
Callable FX Linked JPY Global
Notes_926_1
Zero Coupon ZAR Global
Notes_928_1
Zero Coupon ZAR Global
Notes_928_1
47/54

Publication Date

RatingDecember 10, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

December 10, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

December 10, 2019

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

March 19, 2020

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

March 19, 2020
October 6, 2020
August 5, 2021
August 12, 2022

AAA
AAA
AAA
AAA

March 19, 2020

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

March 19, 2020
October 6, 2020
August 5, 2021
August 12, 2022

AAA
AAA
AAA
AAA

March 19, 2020

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

March 19, 2020

AAA

October 6, 2020

AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Publication Date

Zero Coupon ZAR Global
Notes_928_1
Zero Coupon ZAR Global
Notes_928_1
IDR Global Notes_931_1
IDR Global Notes_931_1
IDR Global Notes_931_1
IDR Global Notes_931_1
Zero Coupon ZAR Global
Notes_934_2
Zero Coupon ZAR Global
Notes_934_2
Zero Coupon ZAR Global
Notes_934_2
Zero Coupon ZAR Global
Notes_934_2
Zero Coupon ZAR Global
Notes_941_1
Zero Coupon ZAR Global
Notes_941_1
Zero Coupon ZAR Global
Notes_941_1
Zero Coupon ZAR Global
Notes_941_1
IDR Global Notes_943_1
IDR Global Notes_943_1
IDR Global Notes_943_1
IDR Global Notes_943_1
BRL Global Notes_950_1
BRL Global Notes_950_1
BRL Global Notes_950_1
BRL Global Notes_950_1
Zero Coupon TRY Global
Notes_814_6
Zero Coupon TRY Global
Notes_814_6
Zero Coupon TRY Global
Notes_814_6
Zero Coupon TRY Global
Notes_814_6
Callable Fixed/FX Linked Rate
Global JPY Notes_952_1
Callable Fixed/FX Linked Rate
Global JPY Notes_952_1
Callable Fixed/FX Linked Rate
Global JPY Notes_952_1
Callable Fixed/FX Linked Rate
Global JPY Notes_952_1
Zero Coupon ZAR Global
Notes_558_10
Zero Coupon ZAR Global
Notes_558_10
Zero Coupon ZAR Global
Notes_558_10
Zero Coupon ZAR Global
Notes_558_10
ZAR Global Notes_870_3
ZAR Global Notes_870_3
ZAR Global Notes_870_3
ZAR Global Notes_870_3
48/54

RatingAugust 5, 2021

AAA

August 12, 2022

AAA

March 19, 2020
October 6, 2020
August 5, 2021
August 12, 2022

AAA
AAA
AAA
AAA

March 19, 2020

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

March 19, 2020

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

March 19, 2020
October 6, 2020
August 5, 2021
August 12, 2022
March 19, 2020
October 6, 2020
August 5, 2021
August 12, 2022

AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA

April 22, 2020

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

April 22, 2020

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

August 14, 2020

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

August 14, 2020
October 6, 2020
August 5, 2021
August 12, 2022

AAA
AAA
AAA
AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Zero Coupon ZAR Global
Notes_938_2
Zero Coupon ZAR Global
Notes_938_2
Zero Coupon ZAR Global
Notes_938_2
Zero Coupon ZAR Global
Notes_938_2
Zero Coupon TRY Global
Notes_953_1
Zero Coupon TRY Global
Notes_953_1
Zero Coupon TRY Global
Notes_953_1
Zero Coupon TRY Global
Notes_953_1
IDR Global Notes_954_1
IDR Global Notes_954_1
IDR Global Notes_954_1
IDR Global Notes_954_1
TRY Global Notes_955_1
TRY Global Notes_955_1
TRY Global Notes_955_1
TRY Global Notes_955_1
TRY Global Notes_957_1
TRY Global Notes_957_1
TRY Global Notes_957_1
TRY Global Notes_957_1
IDR Global Notes_960_1
IDR Global Notes_960_1
IDR Global Notes_960_1
IDR Global Notes_960_1
Zero Coupon TRY Global
Notes_965_1
Zero Coupon TRY Global
Notes_965_1
Zero Coupon TRY Global
Notes_965_1
Zero Coupon TRY Global
Notes_965_1
IDR Global Notes_968_1
IDR Global Notes_968_1
IDR Global Notes_968_1
IDR Global Notes_968_1
IDR Global Notes_969_1
IDR Global Notes_969_1
IDR Global Notes_969_1
USD Global Notes_970_1
USD Global Notes_970_1
USD Global Notes_970_1
IDR Global Notes_971_1
IDR Global Notes_971_1
IDR Global Notes_971_1
HKD Global Notes_979_1
HKD Global Notes_979_1
HKD Global Notes_979_1
AUD Global Notes_727_6
AUD Global Notes_727_6
AUD Global Notes_727_6

49/54

Publication Date

RatingAugust 14, 2020

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

August 14, 2020

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

August 14, 2020
October 6, 2020
August 5, 2021
August 12, 2022
August 14, 2020
October 6, 2020
August 5, 2021
August 12, 2022
August 14, 2020
October 6, 2020
August 5, 2021
August 12, 2022
August 14, 2020
October 6, 2020
August 5, 2021
August 12, 2022

AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA

August 14, 2020

AAA

October 6, 2020

AAA

August 5, 2021

AAA

August 12, 2022

AAA

August 14, 2020
October 6, 2020
August 5, 2021
August 12, 2022
October 6, 2020
August 5, 2021
August 12, 2022
October 6, 2020
August 5, 2021
August 12, 2022
December 14, 2020
August 5, 2021
August 12, 2022
February 12, 2021
August 5, 2021
August 12, 2022
April 15, 2021
August 5, 2021
August 12, 2022

AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue Name

Publication Date

Callable Fixed/Capped Index
Linked Rate JPY/USD Dual
Currency Global JPY
Callable Fixed/Capped Index
Linked Rate JPY/USD Dual
Currency Global JPY
Callable Fixed/Capped Index
Linked Rate JPY/USD Dual
Currency Global JPY
IDR Global Notes_981_1
IDR Global Notes_981_1
IDR Global Notes_981_1
ZAR Global Notes_982_1
ZAR Global Notes_982_1
ZAR Global Notes_982_1
Callable Fixed/FX Linked JPY
Global Notes_983_1
Callable Fixed/FX Linked JPY
Global Notes_983_1
Callable Fixed/FX Linked JPY
Global Notes_983_1
Callable EUR Global
Callable EUR Global
Callable EUR Global
ZAR Global Notes_986_1
ZAR Global Notes_986_1
ZAR Global Notes_986_1
HND Global Notes_987_1
HND Global Notes_987_1
HND Global Notes_987_1
USD Global Notes_988_1
USD Global Notes_988_1
USD Global Notes_988_1
USD Global Notes_990_1
USD Global Notes_990_1
USD Global Notes_990_1
Callable Zero Coupon USD
Global Notes_991_1
Callable Zero Coupon USD
Global Notes_991_1
Callable Zero Coupon USD
Global Notes_991_1
IDR Global Notes_989_1
IDR Global Notes_989_1
IDR Global Notes_989_1
SEK Global Notes_992_1
SEK Global Notes_992_1
SEK Global Notes_992_1
NOK Global Notes_993_1
NOK Global Notes_993_1
NOK Global Notes_993_1
IDR Global Notes_994_1
IDR Global Notes_994_1
IDR Global Notes_994_1
AUD Global Notes_995_1
AUD Global Notes_995_1
AUD Global Notes_995_1
AUD Global Notes_998_1
AUD Global Notes_998_1
AUD Global Notes_998_1
50/54

RatingApril 15, 2021

AAA

August 5, 2021

AAA

August 12, 2022

AAA

April 15, 2021
August 5, 2021
August 12, 2022
April 15, 2021
August 5, 2021
August 12, 2022

AAA
AAA
AAA
AAA
AAA
AAA

April 15, 2021

AAA

August 5, 2021

AAA

August 12, 2022

AAA

April 15, 2021
August 5, 2021
August 12, 2022
April 15, 2021
August 5, 2021
August 12, 2022
April 15, 2021
August 5, 2021
August 12, 2022
April 15, 2021
August 5, 2021
August 12, 2022
April 15, 2021
August 5, 2021
August 12, 2022

AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA

April 15, 2021

AAA

August 5, 2021

AAA

August 12, 2022

AAA

June 23, 2021
August 5, 2021
August 12, 2022
June 23, 2021
August 5, 2021
August 12, 2022
June 23, 2021
August 5, 2021
August 12, 2022
June 23, 2021
August 5, 2021
August 12, 2022
June 23, 2021
August 5, 2021
August 12, 2022
June 23, 2021
August 5, 2021
August 12, 2022

AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue NameIDR Global Notes_996_1
IDR Global Notes_996_1
Callable Fixed to Capped FXLinked Interest Rate Global JPY
Notes_1002_1
Callable Fixed to Capped FXLinked Interest Rate Global JPY
Notes_1002_1
USD Global Notes_1005_1
USD Global Notes_1005_1
AUD Global Notes_489_10
AUD Global Notes_489_10
AUD Global Notes_766_1
AUD Global Notes_766_1
EUR Global Notes_769_1
EUR Global Notes_769_1
CAD Global Notes_770_1
CAD Global Notes_770_1
AUD Global Notes_823_1
AUD Global Notes_823_1
TRY Global Notes_896_1
TRY Global Notes_896_1
Zero Coupon TRY Global
Notes_897_1
Zero Coupon TRY Global
Notes_897_1
INR Global Notes_909_1
INR Global Notes_909_1
INR Global Notes_923_1
INR Global Notes_923_1
Zero Coupon ZAR Global
Notes_949_1
Zero Coupon ZAR Global
Notes_949_1
GBP Global Notes_999_2
GBP Global Notes_999_2
AUD Global Notes_1000_2
AUD Global Notes_1000_2
AUD Global Notes_1001_1
AUD Global Notes_1001_1
Callable Fixed to Capped FXLinked Interest Rate Global JPY
Notes_1004_1
Callable Fixed to Capped FXLinked Interest Rate Global JPY
Notes_1004_1
Zero Coupon BRL Global
Notes_1007_1
Zero Coupon BRL Global
Notes_1007_1
Callable Fixed to Capped FXLinked Interest Rate Global JPY
Notes_1008_1
Callable Fixed to Capped FXLinked Interest Rate Global JPY
Notes_1008_1
NZD Global Notes_1009_1
NZD Global Notes_1009_1
NZD Global Notes_1010_1
NZD Global Notes_1010_1
51/54

Publication Date

RatingAugust 5, 2021
August 12, 2022

AAA
AAA

August 5, 2021

AAA

August 12, 2022

AAA

August 5, 2021
August 12, 2022
October 4, 2021
August 12, 2022
October 4, 2021
August 12, 2022
October 4, 2021
August 12, 2022
October 4, 2021
August 12, 2022
October 4, 2021
August 12, 2022
October 4, 2021
August 12, 2022

AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA

October 4, 2021

AAA

August 12, 2022

AAA

October 4, 2021
August 12, 2022
October 4, 2021
August 12, 2022

AAA
AAA
AAA
AAA

October 4, 2021

AAA

August 12, 2022

AAA

October 4, 2021
August 12, 2022
October 4, 2021
August 12, 2022
October 4, 2021
August 12, 2022

AAA
AAA
AAA
AAA
AAA
AAA

October 4, 2021

AAA

August 12, 2022

AAA

October 4, 2021

AAA

August 12, 2022

AAA

October 4, 2021

AAA

August 12, 2022

AAA

October 4, 2021
August 12, 2022
October 4, 2021
August 12, 2022

AAA
AAA
AAA
AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue NameNZD Global Notes_1011_1
NZD Global Notes_1011_1
NZD Global Notes_1012_1
NZD Global Notes_1012_1
NZD Global Notes_1013_1
NZD Global Notes_1013_1
Callable EUR Global
Callable EUR Global
USD Global Notes_1015_1
USD Global Notes_1015_1
Zero Coupon ZAR Global
Notes_1016_1
Zero Coupon ZAR Global
Notes_1016_1
SEK Global Notes_1017_1
SEK Global Notes_1017_1
Zero Coupon ZAR Global
Notes_577_6
Zero Coupon ZAR Global
Notes_577_6
AUD Global Notes_598_3
AUD Global Notes_598_3
MXN Global Notes_1018_1
MXN Global Notes_1018_1
IDR Global Notes_1019_1
IDR Global Notes_1019_1
USD Global Notes_1020_1
USD Global Notes_1020_1
AUD Global Notes_1021_1
AUD Global Notes_1021_1
USD Global Notes_1022_1
USD Global Notes_1022_1
ZAR Global Notes_1023_1
ZAR Global Notes_1023_1
AUD Global Notes_1024_1
AUD Global Notes_1024_1
Zero Coupon INR Global
Notes_1025_1
Zero Coupon INR Global
Notes_1025_1
GBP Global Notes_1026_1
GBP Global Notes_1026_1
Callable Fixed/Index Linked Rate
JPY/USD Powered-Reverse Dual
Currency Global Notes_1029_1
Callable Fixed/Index Linked Rate
JPY/USD Powered-Reverse Dual
Currency Global Notes_1029_1
ZAR Global Notes_1030_1
ZAR Global Notes_1030_1
USD Global Notes_1032_1
USD Global Notes_1032_1
AUD Global Notes_469_15
AUD Global Notes_469_15
AUD Global Notes_495_12
AUD Global Notes_495_12
USD Global Notes_1031_1
USD Global Notes_1031_1
GBP Global Notes_1033_1
GBP Global Notes_1033_1
52/54

Publication Date

RatingOctober 4, 2021
August 12, 2022
October 4, 2021
August 12, 2022
October 4, 2021
August 12, 2022
October 4, 2021
August 12, 2022
October 4, 2021
August 12, 2022

AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA

October 4, 2021

AAA

August 12, 2022

AAA

October 4, 2021
August 12, 2022

AAA
AAA

December 16, 2021

AAA

August 12, 2022

AAA

December 16, 2021
August 12, 2022
December 16, 2021
August 12, 2022
December 16, 2021
August 12, 2022
December 16, 2021
August 12, 2022
December 16, 2021
August 12, 2022
December 16, 2021
August 12, 2022
December 16, 2021
August 12, 2022
December 16, 2021
August 12, 2022

AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA

December 16, 2021

AAA

August 12, 2022

AAA

December 16, 2021
August 12, 2022

AAA
AAA

December 16, 2021

AAA

August 12, 2022

AAA

December 16, 2021
August 12, 2022
December 16, 2021
August 12, 2022
April 28, 2022
August 12, 2022
April 28, 2022
August 12, 2022
April 28, 2022
August 12, 2022
April 28, 2022
August 12, 2022

AAA
AAA
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AAA
AAA
AAA
AAA
AAA
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Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue NameSEK Global Notes_1035_2
SEK Global Notes_1035_2
Zero Coupon BRL Global
Notes_1037_1
Zero Coupon BRL Global
Notes_1037_1
Zero Coupon BRL Global
Notes_1038_2
Zero Coupon BRL Global
Notes_1038_2
INR Global Notes_1039_1
INR Global Notes_1039_1
Zero Coupon INR Global
Notes_1040_1
Zero Coupon INR Global
Notes_1040_1
Zero Coupon RUB Global
Notes_1041_1
Zero Coupon RUB Global
Notes_1041_1
Fixed/Index linked Global JPY
Notes_1043_1
Fixed/Index linked Global JPY
Notes_1043_1
Callable EUR Global
Callable EUR Global
INR Global Notes_1045_1
INR Global Notes_1045_1
Callable EUR Global
Callable EUR Global
AUD Global Notes_1047_1
AUD Global Notes_1047_1
Callable Fixed/ Capped FXLinked Interest Rate Global JPY
Notes_1048_1
Callable Fixed/ Capped FXLinked Interest Rate Global JPY
Notes_1048_1
EUR Global Notes_1049_1
EUR Global Notes_1049_1
CNY Global Notes_974_2
BRL Global Notes_1027_2
IDR Global Notes_1042_1
Zero Coupon ZAR Global
Notes_1050_1
INR Global Notes_1051_1
ZAR Global Notes_1052_1
AUD Global Notes_1053_1
BRL Global Notes_1054_1
USD Step-Up Fixed Rate Global
Notes_1055_1
IDR Global Notes_1056_1
MXN Global Notes_1057_1
ZAR Global Notes_1058_1
Callable EUR Global
Callable EUR Global
Callable EUR Global
USD Global Notes_1062_1
Callable EUR Global Notes_1063
ZAR Global Notes_1064_1
53/54

Publication Date

RatingApril 28, 2022
August 12, 2022

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April 28, 2022

AAA

August 12, 2022

AAA

April 28, 2022

AAA

August 12, 2022

AAA

April 28, 2022
August 12, 2022

AAA
AAA

April 28, 2022

AAA

August 12, 2022

AAA

April 28, 2022

AAA

August 12, 2022

AAA

April 28, 2022

AAA

August 12, 2022

AAA

April 28, 2022
August 12, 2022
April 28, 2022
August 12, 2022
April 28, 2022
August 12, 2022
April 28, 2022
August 12, 2022

AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA

April 28, 2022

AAA

August 12, 2022

AAA

April 28, 2022
August 12, 2022
August 12, 2022
August 12, 2022
August 12, 2022

AAA
AAA
AAA
AAA
AAA

August 12, 2022

AAA

August 12, 2022
August 12, 2022
August 12, 2022
August 12, 2022

AAA
AAA
AAA
AAA

August 12, 2022

AAA

August 12, 2022
August 12, 2022
August 12, 2022
August 12, 2022
August 12, 2022
August 12, 2022
August 12, 2022
August 12, 2022
August 12, 2022

AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA

Outlook/Direction

The Historical Performance of the Credit Rating
Issuer Name

African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank
African Development Bank

Issue NameBRL Global Notes_1065_1
USD Global Notes_1066_1
USD Global Notes_1067_1
Callable FX Linked Global JPY
Notes_1068_1
UGX Global Notes_1069_1
MXN Global Notes_1070_1
USD Global Notes_1072_1
Callable USD Global
USD Global Notes_1074_1
MXN Global Notes_1075_1
MXN Global Notes_1078_1
FX-Linked Dual Currency JPY
Global Notes_1082_1
Zero Coupon ZAR Global
Notes_1084_1
IDR Global Notes_1085_1
ZAR Global Notes_1086_1
Zero Coupon MXN Global
Notes_1087_1
FX-Linked Dual Currency JPY
Global Notes_1088_1
Callable Capped FX-Linked
Interest/FX-Linked Redemption
JPY Global Notes_1089_1
USD Global Notes_1090_1
CNY Global Notes_1091_1
Social/EUR Global Notes_1092_1
USD Global Notes_1093_1
HKD Global Notes_1094_1
HKD Global Notes_1095_1
Callable USD Global
Callable EUR Global
Callable EUR Global
USD Global Notes_1100_1
Zero Coupon ZAR Global
Notes_1101_1

54/54

Publication Date

RatingAugust 12, 2022
August 12, 2022
August 12, 2022

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August 12, 2022

AAA

August 12, 2022
August 12, 2022
August 12, 2022
August 12, 2022
August 12, 2022
August 12, 2022
August 12, 2022

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AAA
AAA
AAA
AAA
AAA
AAA

December 8, 2022

AAA

December 8, 2022

AAA

December 8, 2022
December 8, 2022

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AAA

December 8, 2022

AAA

December 8, 2022

AAA

December 8, 2022

AAA

December 8, 2022
December 8, 2022
December 8, 2022
December 8, 2022
December 8, 2022
December 8, 2022
December 8, 2022
December 8, 2022
December 8, 2022
December 8, 2022

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AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA

December 8, 2022

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Outlook/Direction

Attachment