Fitch affirms Corporacion Andina de Fomento

Fitch Ratings said it affirmed Corporacion Andina de Fomento's (CAF) ratings at long-term A and short-term F1.

The ratings reflect the privileges conferred on it by its member countries, its strong capital base and a solid track record in terms of asset quality and self-sustainable profitability, Fitch said.

However, the agency noted that the ratings are limited by the volatility of the economic environments in which the institution operates, its significant loan concentrations and the member countries' creditworthiness.

Fitch added that CAF has maintained very strong asset quality thanks to its preferred creditor status and conservative credit policies.

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