IFFIm: Rating downgrade action by Standard and Poor’s follows France downgrade
Standard & Poor’s has downgraded the long-term credit rating of the International Finance Facility for Immunisation (IFFIm) from AA+ to AA with a stable outlook. The short-term rating on IFFIm remains unchanged at A-1+.

S&P explained the decision as being linked to its rating action on France today. France is the second largest financial contributor to IFFIm.

“IFFIm, donor countries and the World Bank continuously reiterate their full confidence in IFFIm’s mission and overall financial position, as well as the commitment of donor countries to fulfill their pledging obligations,” said René Karsenti, Chair of the IFFIm Board. “The downgrade is not expected to impact the amount of funds available to IFFIm and GAVI.”

IFFIm is currently rated AA+ by Fitch with stable outlook, Aa1 by Moody’s with a negative outlook and AA by S&P with a stable outlook.
http://www.iffim.org/library/news/press-releases/2013/iffim-rating-action-by-standard-and-poor-s-follows-france-downgrade/