Fitch assigns A to Cabei bonds

Fitch Ratings said it assigned a rating of A to Central American Bank for Economic Integration (Cabei)’s senior unsecured CHF 200 million fixed-rate bonds due August 2022.

Cabei has issued a CHF 200 million senior unsecured bond under its medium-term note program. The bonds carry fixed-rate coupons of 0.371% and will mature on Aug. 26, 2022. Interest payments will be paid annually starting Aug. 26, 2016 up to and including the maturity date.

Proceeds will be used for general business purposes.

Fitch said the bond's rating is aligned with the bank's A long-term issuer default rating and constitutes an unsecured senior obligation that ranks pari passu with all other unsubordinated and unsecured Cabei obligations.

Cabei's ratings reflect its solid capital position, good asset quality metrics and the privileges and immunities conferred on it by its member countries, the agency added.

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