CAF receives international financial recognition

(March 18, 1993). -- CAF obtained the best risk rating granted in the region to a financial institution formed exclusively by Latin American countries with the Standard and Poor's investment grade " Triple B stable" rating for its long-term obligations.

With this recognition, CAF enters the select group of the institutions participating on international capital markets. In Latin America no other organization has received this recognition, and among countries only Chile has a similar rating.

CAF President & CEO Enrique García said he was very pleased with the news. "This rating recognizes our excellent operating results, the good performance of the loan portfolio, and the constant support of our shareholders."

He added that the high rating would contribute to the reinsertion of the Andean countries, and Latin American countries in general, into world financial markets, by attracting more funds into the region which will enable CAF to continue collaborating with the development of its member countries. With the upgrade, CAF will be able to place bonds and other similar instruments on these markets on more competitive conditions, which will in turn stimulate greater demand from investors.

Standard and Poor's - world leader among risk-rating agencies - granted investment grade to CAF after a detailed study of its activities, institutional development and financial indicators.

The institution’s strong financial situation, and the total support of its member countries were decisive in this decision, in addition to the quality of its management, strict compliance with obligations, stable financial policies and growth prospects.