ArmInfo. Leading Chinese rating agency China Chengxin International Credit Rating Co, Ltd (CCXI) upgraded issuer credit rating of Eurasian Development Bank (EDB) in global scale to Ag from A-g and affirmed the highest AAA rating in national scale, with a stable outlook.
In the view of CCXI, EDB’s credit rating upgrade reflects improvement in the Bank’s fundamental strength to Ag from A-g benefiting from the enhancement of capital strength, including accumulated earnings and capital contributions from new member states.
According to CCXI, the EDB, as a leading multilateral development institution in the region, has clear strategic positioning and can achieve its established strategic goals. The Bank is enhancing the diversification of its shareholding structure through membership expansion.
CCXI notes that the EDB has robust risk management framework and prudent risk appetite. The Bank meets all internal key indicators and maintains a strong capital position with the coverage ratio of usable equity on risk-weighted assets being very high and gross debts/usable equity at a very low level. The EDB is consistently profitable amid challenging operating environment. The Bank’s NPL ratio is 0.0%. The Bank’s current investment portfolio is mainly focused on the Central Asia region with the highest exposure to Kazakhstan.
The EDB effectively manages its liquidity, and its current liquid assets can fully cover its short-term debt. In recent years, the Bank has further diversified its financing channels by deepening access to debt capital markets of member-states in different currencies and tapping new regions, including UAE and China. In addition, the Bank has good access to RMB financing channels and benefits from highly diversified RMB sources.
CCXI notes that the contractual support and willingness to support from the Bank’s shareholders are very strong, while the capability of member states to support is moderate. Given the Bank’s fundamental strength is higher than the credit ratings of its major member states, the member states’ support has limited effect on the Bank’s final credit rating.
This week, the Bank also received its first long-term credit rating of Ag with a Stable Outlook from a Hong Kong-based subsidiary of CCXI - China Chengxin (Asia Pacific) Credit Ratings Company Limited (CCXAP). EDB’s ratings from China Chengxin Credit Rating Group further strengthens the Bank’s access to Asian capital markets and supports the diversification of its funding sources.
Additional Information
China Chengxin International Credit Rating Co, Ltd (CCXI) is the largest and leading credit rating agency in China established in 1992. CCXI is a joint venture company of Beijing Zhixiang Information Management Consulting Co., Ltd. (“Beijing Zhixiang”) and Moody's Investors Service (“Moody's”). It was the first nationwide credit rating agency approved by the People's Bank of China.
The Eurasian Development Bank (EDB) is a multilateral development bank investing in Eurasia. For 20 years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries. By the end of June 2026, the EDB’s cumulative portfolio comprised 348 projects with a total investment of US $22.1 billion. Its portfolio consists principally of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing and mechanical engineering. The Bank adheres to the UN Sustainable Development Goals and ESG principles in its operations.
The EDB is implementing three mega-projects as part of its 2022–2026 Strategy: the Eurasian Transport Network, the Eurasian Agricultural Goods Distribution System and the Central Asian Water and Energy Complex.
