Fitch Ratings Assigns IIC a Long-Term Rating of ‘AAA’ with Stable Outlook
FITCH DECISION NOTES IIC’S HIGH LEVELS OF CAPITAL ADEQUACY, THE FINANCIAL SUSTAINABILITY OF ITS OPERATIONS, AND STRICT INTERNAL POLICIES GOVERNING LIQUIDITY
Washington, D.C. — On February 27, 2012, Fitch Ratings assigned a long-term international default rating (IDR) of ‘AAA’ with a stable outlook to the Inter-American Investment Corporation (IIC) and a short-term IDR of ‘F1+.’
“The ratings primarily reflect the IIC’s intrinsic strengths, which include its strong capitalization, high liquidity, financially sustainable operations as well as shareholder support,” noted Fitch.
In the words of the IIC’s general manager, Jacques Rogozinski, “The Corporation welcomes this announcement by Fitch Ratings and considers it an important recognition of our conscientious efforts to effectively accomplish our mission without jeopardizing the financial stability and credit profile of the IIC. This concerted effort enlists our shareholders, the IIC’s board, management, and the valuable contributions of all our staff in recent years. Fitch’s recognition motivates us to redouble our efforts on behalf of the countries of the region.”
About the IIC
The IIC is a multilateral financial institution that is a member of the Inter-American Development Bank (IDB) Group. The IIC’s mission is to promote the economic development of its regional member countries by encouraging the establishment, expansion, and modernization of private enterprises, particularly those that are small and medium in size. It does so by providing financing (in the form of equity investments, loans, guarantees, and other instruments) and advisory services to private enterprises in Latin America and the Caribbean. As of September 2011, the IIC’s equity totaled US$799 million and is assets US$1.44 billion, of which US$987 million make up its development portfolio in the region. For more information on the IIC’s activities, visit www.iic.org.
Contact: Orlando Ferreira
Telephone: (202) 623-2924