S&P affirms IADB

S&P said it affirmed its AAA/A-1+ long- and short-term issuer credit ratings on Inter-American Development Bank (IADB).

The outlook is stable.

The agency said the ratings reflect an assessment of the bank's very strong business profile and financial profile, resulting in an aa+ stand-alone credit profile.

S&P said the rating is uplifted by one notch to AAA when incorporating the extraordinary shareholder support it receives through callable capital.

The bank experienced its first sovereign nonaccrual status since 2001 when Venezuela surpassed 180 days on some of its payment obligations, the agency said.

“While negative for the bank, we believe the impact is contained considering its limited exposure to the sovereign and expect no contagion risk,” S&P said in a news release.

© 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.