Fitch rates Andina bonds A+

Fitch Ratings said it assigned an A+ long-term rating to Corporacion Andina de Fomento's Swiss franc and Japanese yen bonds, including its CHF250 million bonds due 2015, ¥4.6 billion bonds due 2015 and ¥9.8 billion bonds due 2014.

The ratings reflect the privileges conferred on it by its member countries, its strong capital base and solid track record in terms of asset quality and self-sustainable profitability, Fitch said.

The ratings are limited by the volatility of the economic environment in which the institution operates, relevant loan concentrations and the member countries' creditworthiness, the agency said.

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