S&P affirms IADB

S&P said it affirmed its AAA/A-1+ long- and short-term issuer credit ratings on Inter-American Development Bank (IADB).

The outlook is stable.

Venezuela entered into nonaccrual status with Inter-American Development Bank after surpassing some of its payment obligations by more than 180 days.

“While negative for the bank, we believe the impact will be contained, given its limited exposure to the sovereign, and do not expect contagion risk,” the agency said in a news release.

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