Fitch affirms DBN’s stable outlook credit ratings

• By Confidente Reporter

LOCAL economist Josef Sheehama says the Development Bank of Namibia’s (DBN) Fitch Rating of a stable outlook paints a positive picture because it plays a vital role in evaluating the creditworthiness of governments and corporations, assessing investor risk, promoting market efficiency and transparency, and assisting businesses in raising capital from domestic investors.

He said that for DBN to maintain good credit ratings from agencies, it must continue to examine and certify its manuals on an annual or as-needed basis.

Fitch Ratings gave DBN’s Long-Term Issuer Default Rating (IDR) a ‘BB-‘, and its National Long-Term Rating is ‘AA+.’

Sheehama said DBN is the country’s flagship and largest policy bank, designed to promote economic and social development.