Moody’s assigns Baa2 to Bladex notes

Moody's Investors Service said it assigned a Baa2 long-term foreign currency senior unsecured debt rating to Banco Latinoamericano de Comercio Exterior's (Bladex) proposed issuance of long term dollar-denominated notes due 2020 in the amount of $350 million.

The notes will be issued under Bladex's $2.25 billion multicurrency euro medium-term note program, which allows for notes with maturities of between seven days and 30 years and is governed by the laws of the State of New York.

The outlook is stable.

Moody’s said the Baa2 senior debt rating reflects Bladex's high quality loan portfolio, preferential creditor treatment, and strong tier one capitalization. Bladex's franchise benefits from its expertise as a regional bank specializing in trade finance for financial institutions, corporations, and middle market companies throughout Latin America and the Caribbean. The bank continues to add commercial relationships and is expanding its loan syndication activities to generate more fees and meet its profit targets, while leveraging its core competencies in lending and trade finance, the agency said.

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