Sunday, April 21, 2024
spot_img
HomeNewsCaribbean NewsFitch Ratings affirms CDB’s AA+ stable outlook

Fitch Ratings affirms CDB’s AA+ stable outlook

  • Highlighting Resilient Loan Performance and High Governance Standards

BRIDGETOWN, Barbados – Fitch Ratings affirmed the Caribbean Development Bank’s (CDB) Long-Term Issuer Default Rating (IDR) at ‘AA+’ with a Stable Outlook, on February 21, 2024.

The report highlights the bank’s high governance standards, ‘excellent’ capitalisation, high level of solvency (assessed at ‘aa+’), and very high liquidity (assessed at ‘aaa’).

In addition to confidence in the bank’s administration and governance, key driving factors behind the rating include:

  • Excellent capitalisation, now broadly in line with pre-pandemic levels; very high liquidity, with an expectation that the bank will continue to operate with large and high-quality liquidity buffers.
  • Resilient Loan Performance, exceeding Fitch’s previous expectations during the pandemic.
  • Risk Management Framework Enhancements, including a roadmap for reforms spanning capital adequacy, concentration, market, liquidity and operational risks through to 2025.

The ‘AA+’ rating from Fitch Ratings reinforces the confidence in the bank’s financial strength and governance. It comes at a critical time as the region grapples with economic recovery and resilience challenges. The bank will continue leveraging its financial strength to mobilize resources to accelerate our Borrowing Member Countries’ progress towards achieving the Sustainable Development Goals.

The full rating action commentary from Fitch Ratings is available here.

spot_img
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img
spot_img
spot_img

Caribbean News

PM Pierre expresses concern on the impact of misinformation

By Caribbean News Global TORONTO, Canada - Responding to the negative impact of misinformation, lies and inexactitudes, in the politics of Saint Lucia, Prime...

Global News

IMFC 49th meeting: Global situations have significant impacts on the global economy

- International Monetary and Financial Committee (IMFC) members discussed the global macroeconomic and financial impact of current wars and conflicts including the war in...