04
Apr
Fitch Ratings recently affirmed Development Bank of Namibia Limited's (DBN) Long-Term Issuer Default Ratings (IDR) at 'BB-' and its National Long-Term Rating at 'AA+(zaf)'. Fitch said the outlooks are stable. Fitch said DBN's National Long-Term Rating of 'AA+(zaf)' is equalised with that of Namibia and reflects the bank's creditworthiness relative to that of issuers in South Africa and Namibia. The government has a high propensity to support DBN, given the bank's important policy role, 100% state ownership and significant share of government-guaranteed funding. The DBN is Namibia's flagship and largest policy bank and contributes to the country's economic growth and…