The International Finance Facility for Education (IFFEd) has been assigned ‘AA+’ long-term and ‘A-1+’ short-term issuer credit ratings by S&P Global Ratings, with a stable outlook.
The agency recognised IFFEd’s innovative financing model, strong policy mandate and exceptionally robust financial profile. In its press release, S&P described IFFEd as “an innovative financing mechanism that will provide portfolio support and concessional financing through partnerships with multilateral lending institutions to encourage investments in education in lower-middle-income countries (LMICs).”
S&P highlighted IFFEd’s “extremely strong” financial risk profile, underpinned by its solid capital base, conservative financial policies and support from founding contributors – the UK, Canada and Sweden (through Sida). The rating also reflects IFFEd’s partnerships with major multilateral development banks, including the Asian Development Bank, and its role in mobilising additional finance for education and skills development.
IFFEd CEO Karthik Krishnan said:
“This rating confirms the strength of IFFEd’s model and the confidence the market has in our ability to deliver impact at scale. It provides a strong platform as we expand our partnerships and financing operations to reach more countries and learners.”
The stable outlook reflects S&P’s expectation that IFFEd will continue to build a track record of delivery, broaden its contributor base and maintain prudent financial management as it scales its operations.
You read the full press release from S&P Global here.
12 September 2024