Rating Aaa/AAA
La Banque de Développement du Conseil de l’Europe (CEB) bénéficie d’une notation triple A par Moody’s, Standard & Poor’s, Fitch Ratings et Scope Ratings*. Cette très bonne notation reflète la solidité financière, le fort soutien de son actionnariat et la gestion rigoureuse des risques de la Banque.
Le 19 septembre 2025, Moody’s a confirmé sa notation à long terme pour la CEB à ‘Aaa’, perspective stable. Le 30 juillet 2025, Standard & Poor’s a confirmé sa notation AAA, avec une perspective stable. Le 1er juin 2026, Fitch a confirmé sa note de défaut émetteur à long terme pour la CEB à ‘AAA’, avec une perspective stable. Le 5 juin 2026, Scope Ratings a maintenu sa notation* pour la CEB à AAA avec une perspective stable. La note de la dette à court terme de la CEB attribuée par les agences de notation de crédit atteint le niveau le plus élevé sur l'échelle de notation, à savoir “ P-1/A-1+/F1+/S-1+*”.
Moody’s : Aaa, perspective stable
“CEB’s key credit strengths include strong asset quality and an outstanding asset performance with zero non-performing loans over decades. Its asset quality benefits from strong underlying borrower credit quality and good diversification of the loan book. Asset quality is also enhanced by the bank’s preferred creditor status (PCS) and the effective use of credit protections, mainly guarantee schemes, including from the European Union (EU, Aaa stable), under the European Commission InvestEU program.”
“The affirmation of the ratings also reflects CEB’s very strong liquidity and funding profile.”
"Extraordinary support from shareholders is a further credit strength.”
“The stable outlook reflects our view that CEB’s ongoing credit strengths, including its very strong liquidity and funding profile, strong asset quality and performance, as well as prudent risk management, will offset the increasing risks to it asset portfolio because of the ongoing increase in operations in Ukraine. It also reflects our view that the level of shareholder support will remain strong, as exemplified by the recent capital increase that concluded successfully at the end of 2024.”
Communiqué de presse (19 septembre 2025)
Rapport de notation (19 septembre 2025)
Standard & Poor’s : AAA, perspective stable
“In our [S&P’s] view, the Council of Europe Development Bank's (CEB's) role as a socially focused bank within Europe has solidified over the past few years.”
“CEB's financial profile has strengthened further due to the completion of capital injections, strengthening its risk adjust capital ratio to 32.1%, in spite of an increase in loan and finance exposures.”
“We [S&P’s] expect an excellent asset quality track record and low cost of risk will continue to support CEB's capitalization”
“CEB's history of demonstrated PCT also underlines the bank's overall enterprise risk profile”
“The 2023-2027 strategic plan also reflects the bank's more dynamic approach leveraging on increased demand for social investments throughout Europe and new partnerships forged through the pandemic with other international organizations.”
“In our [S&P’s] opinion, CEB benefits from strong governance and risk management standards”
“Operationally, we [S&P’s] think CEB has conservative risk and liquidity management policies.”
“We [S&P’s] assess CEB's stand-alone credit profile (SACP) as 'aaa' based on the bank's stand-alone merits. “
“In line with its social mandate, CEB has established a strong track record and expertise as a social bond issuer.”
“Under our [S&P’s] liquidity stress scenario, at all horizons up to one year, CEB would fully cover its balance-sheet liabilities without market access.”
Rating report (30 juillet 2025)
Fitch Ratings : AAA, perspective stable
“CEB's ratings are driven by its Standalone Credit Profile (SCP) of 'aaa', based on a 'aa' solvency assessment, reflecting 'strong' capitalisation and 'very low' risk assessments, a 'aaa' liquidity assessment and a two-notch uplift over the lower of solvency and liquidity to reflect CEB's 'low' risk business environment. Fitch's assessment of extraordinary support from shareholders is 'a' and does not lead to an uplift to the rating.”
“Very Low Credit Risk: The average credit quality of CEB's borrowers was 'A-' at end-2025, unchanged from 2024.”
“Excellent Liquidity: Our 'aaa' liquidity assessment reflects CEB's excellent liquidity buffers, the strong credit quality of its treasury portfolio (62% rated above 'AA-' at end-2025), and strong access to capital markets.”
“In Fitch's view, the recent capital increase is evidence of shareholders' increased propensity to provide financial support to the bank.”
Communiqué de presse (1er juin 2026)
Scope Ratings : AAA*, perspective stable
“The AAA/Stable rating of the CEB reflects its i) strong capital base, reinforced by the 2022 capital increase and comfortable retained earnings, ii) excellent asset quality, reflecting a low business risk profile, high average borrower quality, and the Bank’s strong preferred creditor status, iii) very high liquidity buffers, reflecting comprehensive risk indicators and accumulation of liquid assets, iv) growing strategic importance given the high demand for social investments throughout Europe, and v) highly rated shareholders.”
“The CEB benefits from the increasingly strategic role it plays for its 43 shareholder governments and from its strong governance. The 2022 capital increase, which was subscribed by 95% of eligible member states, supports the Bank’s ability to deliver on its Strategic Framework for 2023-27, amid rising demand for social investment projects across Europe.”
“The CEB’s financial profile is further supported by its excellent asset quality, with no defaults or late payments in 2025.”
“The CEB’s excellent financial profile is supported by its strong liquidity profile and excellent market access.”
Communiqué de presse (5 juin 2026)
Rating report (5 juin 2026)
* non-sollicitée