S&P rates Bladex notes BBB

S&P said it assigned its BBB issue rating to Banco Latinoamericano de Comercio Exterior SA’s (Bladex) proposed senior unsecured notes for up to $400 million under the $2.25 billion multicurrency medium-term note program. The tenor of the notes will be up to five years.

“The BBB rating on the new notes is at the same level as the long-term global scale issuer credit rating on the bank, reflecting that the new notes will rank equally in right of payment with all of Bladex’s senior unsecured debt obligations. In this sense, our view of the bank’s funding is unchanged since these notes will represent only 7% of the bank's total funding and won’t change its funding structure significantly,” S&P said in a press release.

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