S&P lifts Bladex outlook to positive

Standard & Poor's said it revised its outlook on Banco Latinoamericano de Exportaciones (Bladex) to positive from stable.

At the same time, the agency said it affirmed our BBB-/A-3 ratings on Bladex.

"The positive outlook incorporates our expectation that Bladex will continue to grow its assets, resulting in a reduction in loan-book concentration by borrower and region and will not affect asset quality," said S&P credit analyst Laurence Wattraint.

S&P said it believes loan growth to be reflected in higher profitability levels.

According to the agency, the rating action reflects Bladex's successful strategy that has improved its overall financial performance while the ratings also incorporate the bank's industry knowledge, its premier source of trade finance, its preferred creditor status in the countries in which it operates and its short-term trade finance business within Latin America.

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