Supranationals - Council of Europe Development Bank
6 January 2023
The importance of the public mandate is assessed as ‘Medium Risk’ given the limited role it plays in the financing of the shareholders’ countries. [...] The only sovereign default in the bank’s history was to the former Yugoslavia after the onset of the war in the early 1990s. [...] The manner of Fitch's factual investigation and the scope of the third-party verification it obtains will vary depending on the nature of the rated security and its issuer, the requirements and practices in the jurisdiction in which the rated security is offered and sold and/or the issuer is located, the availability and nature of relevant public information, access to the management of the issuer. [...] Ultimately, the issuer and its advisers are responsible for the accuracy of the information they provide to Fitch and to the market in offering documents and other reports. [...] The information in this report is provided "as is" without any representation or warranty of any kind, and Fitch does not represent or warrant that the report or any of its contents will meet any of the requirements of a recipient of the report.