The Independent Uganda: You get the Truth we Pay the Price
Kampala, Uganda | THE INDEPENDENT | Uganda Development Bank has been assigned a National Long-term Rating of ‘AAA (uga)’ with a Stable Outlook, the highest attainable on Uganda’s national scale.
Assigned by Fitch Ratings, a world-renowned international credit rating agency, the Bank was also assigned a Long-Term Issuer Default Rating (IDR) of ‘B+’ with a negative outlook, the same pegged against Uganda’s Sovereign rating,given that the Bank is wholly owned by the Government.
“The ‘AAA (uga)’ rating by Fitch is a testament to the Bank’s robust institutional health and lends credence to the overall sustainability of the Bank.
We are grateful to our various stakeholders, but more especially the Ugandan government, for the ongoing support that ensures the Bank continues to deliver its mandate,” said UDB Managing Director, Patricia Ojangole.
Fitch conducts a comprehensive assessment of a participating institution against a common set of parameters, following from which, it assigns a credit rating. Investors use these credit ratings as a guide as to which investments will not default and subsequently yield a solid return
