IIC Receives AA Rating From Standard & Poor's

12/20/2000

WASHINGTON, D.C. - The Inter-American Investment Corporation (IIC)1has received an AA rating from Standard & Poor's. This endorsement from one of the financial market's most prestigious agencies comes ten years after the IIC-a part of the Inter-American Development Bank Group-began operations. The rating will enable the IIC to tap the bond markets to obtain additional funding that it will use to foster the development of small and medium-size companies in Latin America and the Caribbean.

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1 The Inter-American Investment Corporation is a multilateral financial institution that is part of the Inter-American Development Bank Group. It provides financing (in the form of equity investments, loans, guarantees, and other instruments) and advisory services to private enterprises in Latin America and the Caribbean. The IIC's mission is to promote the economic development of its regional borrowing member countries by stimulating the establishment, expansion, and modernization of private enterprises, particularly those that are small and medium in size. The IIC has thirty-seven member countries: twenty-six in Latin America and the Caribbean and eight in Europe, plus the United States, Japan, and Israel. For further information on IIC's activities please contact Mr. Jorge Roldán at 202-623-3948.

Contact: Jorge Roldán

Telephone: (202) 623-3919

Email: jorgero@iadb.org