Safeguard Policy Statement & Strategy 2020 Midterm Review

Agency Rating Fitch Ratings AAA Moody's Aaa Standard & Poor's AAA ADB as a Borrower ADB is a leading AAA borrower in international and domestic capital markets, having issued bonds across various markets in 32 currencies. Borrowings finance Ordinary Capital Resources (OCR) operations. OCR loans are generally made to developing members that have attained a higher level of economic development. ADB's debt securities carry the highest possible investment ratings from major international credit rating agencies. 16

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