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Fitch upgrades CAF after capital increase

Fitch upgrades CAF after capital increase

January 16, 2023
South American development bank is expected to receive more payments from member nations in a $7 bln injection this year

International Financial Institutions CAF Credit Ratings Fitch Ratings Upgrade Loans Debt South America El Salvador Venezuela

Fitch Ratings said Friday that it upgraded South American development bank CAF to AA- with a stable outlook after a capital increase last year. "CAF's shareholders' capital contributions will support the bank's lending expansion and portfolio diversification in the coming years while maintaining 'excellent' capitalization metrics," Fitch said in a report. CAF's member nations approved a capital increase for $7 billion in March 2022, and seven countries have already signed agreements. Ecuador mad

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