September 20, 2019
Moody's has upgraded the ratings for the Central American Bank for Economic Integration (CABEI) to Aa3 from A1, saying the addition of South Korea as a member nation has bolstered the development bank's capital.
South Korea agreed to pay $450m to join CABEI in February 2018, split between $338m in callable capital and $113m in paid-in capital through 2022, according to Moody's.
South Korea will have a 9.2% stake in CABEI, the second largest share for a member outside the region after Taiwan with
Central American development bank counts on South Korea's membership fees to bolster capital, rating agency says