OREANDA-NEWS. Fitch Ratings has assigned an 'A' Long-term Foreign Currency rating to Central American Bank for Economic Integration's (CABEI) senior unsecured CHF 200 million CABEI Swiss Franc 6.5 Year bond due November 2021.

The bond's rating is aligned with the bank's 'A' Long-term Issuer Default Rating (IDR), and constitutes an unsecured senior obligation that ranks pari passu with all other unsubordinated and unsecured CABEI obligations.

KEY RATING DRIVERS

CABEI's IDRs reflect its intrinsic strengths, which include sound capitalization, leverage and credit quality. The ratings also consider CABEI's relatively high portfolio concentration and strong liquid assets.

RATING SENSITIVITIES

A change in CABEI's IDRs will have an impact on the senior unsecured CHF 200mm bond.

PROFILE

CABEI is a Central American multilateral development bank based in Tegucigalpa, Honduras. It is majority owned by its five founding member countries: Guatemala, El Salvador, Honduras, Nicaragua, and Costa Rica. CABEI's objective is to fund development projects in Central America by channeling medium and long-term foreign currency resources both to public and private institutions. CABEI was established under a 'Constitutive Agreement' signed by founding members, which confers on the bank the status of a supranational institution and grants CABEI several immunities and privileges, including preferred creditor status.