S&P ups Corporacion Andina de Fomento

S&P said it raised its long-term foreign-currency issuer credit rating on Corporacion Andina de Fomento to AA from AA-.

“The upgrade is based on our expectation that CAF will continue to enhance its position in Latin America and the Caribbean through its most recent capital increase, with payments having started in 2023. We also expect CAF will benefit from expanded support from existing members and incorporation of new member countries in recent years,” S&P said in a press release.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.