Moody's may lift Bladex

Moody's Investors Service said it placed on review for possible upgrade Banco Latinoamericano de Exportaciones' (Bladex) Baa3 deposit, debt and issuer ratings and its D+ bank financial strength rating.

Moody's noted the rating action was based on Bladex's track record of increasing core profitability, earnings diversification and improving asset quality, as well as management's new strategy to broaden its activities in trade finance and securities business in the Latin American and Caribbean regions.

The addition of products such as factoring, leasing and structured trade finance should leverage management's strong relationship, product and risk assessment capabilities and lead to increasing profitability over time, the agency noted.

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