Fitch affirms CAF

Fitch Ratings said it affirmed Corporacion Andina de Fomento's (CAF) long-term issuer default rating at A+, short-term issuer default rating at F1, long-term national rating in Venezuela at AAA(ven), short-term national rating in Venezuela at F1+(ven) and long-term national rating in Mexico at AAA(mex).

The outlook of the long-term issuer default rating is stable.

Ratings reflect the privileges conferred on it by its member countries, its strong capital base and a solid track record on asset quality and self-sustainable profitability, according to Fitch.

Ratings are limited by the volatility of the institution's economic environment, significant loan concentrations and the member countries' creditworthiness, the agency said.

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