Japan Credit Rating Agency affirms CABEI's international credit risk rating of "AA", with a stable outlook

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Banco Centroamericano de Integración Económica

Apr 27, 2023, 13:00 ET

TEGUCIGALPA, Honduras, April 27, 2023 /PRNewswire/ -- The Japan Credit Rating Agency (JCR) affirmed the long-term international risk rating of the Central American Bank for Economic Integration (CABEI) at "AA"; with a stable outlook.

According to JCR's official statement, the Bank's credit rating is based on the solid support from its member countries, its preferred creditor status, and sound financial structure and ample liquidity. CABEI not only retains ample liquidity based on its prudent financial rules but also maintains its financial soundness by diversifying its funding sources.

Likewise, CABEI's Executive President, Dr. Dante Mossi, highlighted the significant participation of Asian partners in the Bank's shareholding structure, considering that, in aggregate, the Republic of China (Taiwan) and the Republic of Korea have subscribed around 20% of the authorized capital of the Institution. In this regard, he emphasized the importance of continuing to incorporate member countries with high credit ratings to continue improving the Bank's rating, and thus enhance the channeling of resources to the Central American region in stable and competitive financial conditions.

Finally, the rating agency emphasized CABEI's transcendental role as a relevant multilateral financial institution for the region, highlighting the support that the Bank has provided to the efforts of its partners to face the global pandemic as well as the economic development of the region, through different programs such as the Temporary Support Program for the increase in fuel costs and the Emergency Support and Preparedness Program for the COVID-19 pandemic and Economic Reactivation.

About CABEI

CABEI was created in 1960 as the financial arm of the region's integration and development. Its resources are continuously invested in projects with developmental impact to reduce poverty and inequality, strengthen regional integration and the competitive insertion of its members in the global economy, with special attention to environmental sustainability. CABEI is headquartered in Tegucigalpa with offices throughout Central America.

CABEI's financial soundness as the best credit in Latin America is backed by its high credit rating granted by different international agencies: Standard & Poor's with a rating of AA, Moody's with a rating of Aa3, and Japan Credit Rating with AA.

Contact:
Hector Barletta [email protected]
Gabriela Rodríguez [email protected]

SOURCE Banco Centroamericano de Integración Económica