BRIDGETOWN, Barbados – Fitch Ratings affirmed the Caribbean Development Bank’s (CDB, the Bank) Long-Term Issuer Default Rating at ‘AA+’ with a Stable Outlook, underpinned by very high liquidity and excellent capitalisation. This assessment underscores the bank’s resilient financial performance and robust governance standards.
The affirmation by Fitch Ratings reflects the following key rating drivers:
- New President Elected: Daniel Best was recently appointed president of CDB, effective February 2025. In Fitch’s view, the process to transition to a new president was consistent with the bank’s high governance standards.
- ‘Excellent’ Capitalisation: CDB’s capital levels have returned to pre-pandemic stability, which highlights the resilience of the bank’s capitalisation, supported by its strong loan performance, overall high solvency, reinforcing its financial stability.
- Very High Liquidity: Fitch assesses CDB’s liquidity as very high. This is driven by ‘excellent’ liquidity buffers and the ‘excellent’ credit quality of the bank’s treasury portfolio.
This ‘AA+’ rating reaffirms confidence in CDB’s financial strength and robust governance at a time when the region faces critical economic recovery and resilience challenges.
CDB president, Daniel Best, remarked:
“We are delighted with the affirmation of our credit rating by Fitch Ratings. This underscores the strength of CDB’s financial health and sound governance, enabling us to pro-actively continue mobilising resources to support our Borrowing Member Countries in their sustainable development initiatives.”
As CDB remains steadfast in its mission to thrive the Caribbean region, reduce poverty and foster economic growth, this rating affirms its capability to support the region’s development needs through times of recovery and beyond.
For more detailed information, the full rating action commentary from Fitch Ratings can be accessed here.