Fitch Ratings affirms Agricultural Development Bank of China’s IDR at A+

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Fitch Ratings has affirmed the sole agriculture-related policy bank in China i.e. Agricultural Development Bank of China’s IDR (Issuer Default Rating) at ‘A+’, and the outlook is “stable.”

ADBC is wholly owned by the Ministry of Finance and under the direct leadership of the State Council.

It is to be noted here that ADBC promotes strategic development of China’s economy by providing financing for procurement of agriculture goods as well as rural development projects.