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TEXT-Fitch revises Banque Gabonnaise de Developpement to positive
April 5, 2012 / 2:27 PM / 6 years ago

TEXT-Fitch revises Banque Gabonnaise de Developpement to positive

April 5 - Fitch Ratings has revised Banque Gabonnaise de Developpement's
(BGD) Outlook to Positive from Stable and affirmed its Long-term Issuer Default
Rating (IDR) at 'B+'. A full list of rating actions is at the end of this
release.	
	
The Outlook revision follows Gabon's Outlook revision to Positive from Stable
(see 'Fitch Revises Gabon's Outlook to Positive; Affirms at 'BB-'' dated 5 April
2012 at www.fitchratings.com). BGD's Long-and Short-term IDRs, Support Rating
and Support Rating Floor are driven by potential support from the Gabonese state
(rated 'BB-'), if required. Given BGD's public mandate and key role in Gabon's
economic development, Fitch believes that Gabon would be highly likely to
support BGD. Support is however constrained by Gabon's moderate credit quality.	
	
Any change in Gabon's IDRs would likely lead to a similar change in those of
BGD. Moreover, downside risk to BGD's ratings would arise from a weakening of
its links with, or a decrease in its importance to the Gabonese state.	
	
BGD	
Long-term IDR: Affirmed at 'B+'; Outlook revised to Positive from Stable	
Short-term IDR: Affirmed at 'B'	
Support Rating: Affirmed at '4'	
Support Rating Floor: Affirmed at 'B+'	
Senior Unsecured XAF10bn Bond: Affirmed at 'B+'/'RR4'	
	
	
Additional information is available on www.fitchratings.com	
	
The ratings above were solicited by, or on behalf of, the issuer, and therefore,
Fitch has been compensated for the provision of the ratings.	
	
Applicable criteria, 'Global Financial Institutions Criteria' and 'Recovery
Ratings for Financial Institutions', dated 16 August 2011, 'Evaluating Corporate
Governance', dated 13 December 2011, are available at www.fitchratings.com.	
	
Applicable Criteria and Related Research:	
Global Financial Institutions Rating Criteria	
Recovery Ratings for Financial Institutions	
Evaluating Corporate Governance

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