Fitch affirms CABEI’s Long-term and Short-term Issuer Default Ratings (IDR) at 'A' and ‘F1’ respectively; Outlook is Stable for both ratings.

Tegucigalpa. Honduras, September 30, 2013.- Fitch Ratings Agency has affirmed the Central American Bank for Economic Integration's (CABEI) Long-term and Short-term Issuer Default Ratings (IDR) at 'A' and 'F1' respectively. The outlook is Stable for both ratings.  

According to Press Release issued by Fitch, CABEI's IDRs reflect its consistent performance, solid financial profile, and adequate risk management.

The rating agency also stressed the importance that CABEI's shareholders support has on the rating, as reflected by the privileges conferred to it by its member countries, including the preferred creditor status.

The Rating Agency also emphasizes CABEI's funding structure which has evolved in recent years, thanks to its active participation in international capital markets of Europe, Asia and America.

According to Fitch, this strategy has allowed the Bank to extend the maturity profile of its funding, with bond issuances accounting for more than 58% of its total funding.

Fitch also highlights CABEI's solid liquidity guidelines and sound capitalization by sub-regional multilateral development standards as reflected by the Bank's equity to asset ratio which stood at a comfortable 29.8% at June 2013.

CABEI´s Executive President Dr. Nick Rischbieth indicated that Fitch's rating affirmation confirms the financial soundness of the institution, which maintains a strong commitment to contribute to the development of the Central American countries.

Dr. Rischbieth also stressed the importance of CABEI's role as the Multilateral Development Bank (MDB) of the Central American region, for which it has provided 52% of total MDB disbursements over the past ten years; while also emphasizing the importance of the Bank´s shareholder support as reflected by the timely capital payments it has received under the current capitalization process and the preferred creditor status conferred to it by its member countries.

Finally, Dr. Rischbieth added that in 2012, CABEI channeled resources to the Central American region reaching a loan portfolio of US$5,484 million, further enhancing the Bank´s relevance and franchise value.

Today, CABEI's credit ratings are: Fitch Ratings 'A' (stable outlook), Standard & Poor's 'A' (stable outlook), and Moody's 'A2' (stable outlook).