Fitch affirms IADB

Fitch Ratings said it affirmed Inter-American Development Bank's long-term issuer default rating at AAA and short-term issuer default rating at F1+.

The outlook is stable.

The agency said IADB's ratings are primarily based on the high credit standing of its non-borrowing shareholders, its sound capitalization and its preferred creditor status.

In 2008, IADB recorded a net loss of $22 million due mostly to unrealized losses on asset- and mortgage-backed securities held in its liquid assets portfolio, Fitch noted. The bank was more exposed to these securities than most other AAA-rated multilateral development banks, but the agency said the liquid asset portfolio remains fully performing.

© 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.