Bladex Upgraded to BBB+ Long-Term Rating with Stable Outlook
BLX•S&P Global Ratings raised Bladex’s long-term issuer credit rating to BBB+ from BBB and upgraded its senior unsecured notes to BBB+ while affirming its A-2 short-term rating with a stable outlook. The upgrade reflects solid asset quality, strong capital base, diversified portfolio and low credit losses across Latin America operations.
1. Credit Rating Upgrade
Bladex’s long-term issuer credit rating was raised to BBB+ from BBB, its senior unsecured notes also moved to BBB+ from BBB, while its short-term issuer rating remained at A-2 and the outlook was set to stable.
2. Drivers of Upgrade
The upgrade reflects Bladex’s solid asset quality, strong capitalization, consistent earnings generation and adequate funding and liquidity, supported by its diversified portfolio spanning multiple geographies and economic sectors and historically low credit losses.
3. Implications for Funding and Operations
With a higher investment-grade rating and stable outlook, Bladex may secure lower borrowing costs, broaden its funding sources and reinforce its role in financing foreign trade across Latin America, supporting continued growth and economic integration.
