S&P raises Fondo Latinoamericano de Reservas

Standard & Poor's said it raised its long-term issuer credit rating on Fondo Latinoamericano de Reservas to AA- from A+ and revised its outlook on the long-term rating to positive from stable.

S&P said it also raised its A-1 short-term issuer credit rating on the company to A-1+.

The ratings are supported by a very strong capital position as shareholders' equity exceeded 80% of total assets and was almost 20 times total loans as of year-end 2005 as well as membership backing, the agency noted.

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