Standard And Poor’S Revises Its Credit Rating Outlook On IIC From Stable To Positive
07/17/2008Washington, D.C. - The Inter-American Investment Corporation (IIC)’s Standard and Poor’s credit rating was revised from stable to positive. S&P affirmed the IIC’s ‘AA-/A-1+’ credit rating.
"The Corporation welcomes S&P's announcement, which equates to recognition of the joint effort by shareholders, the Board of Directors, and management to improve the IIC's credit profile. Revising the rating outlook sends a positive signal to the markets and will make it easier to obtain the funding needed to provide financing to small and medium-size enterprises in the region," according to Juan Eduardo Zuluaga, Chief of the IIC’s Finance and Risk Management Division.
The Inter-American Investment Corporation is a multilateral financial institution that is a member of the Inter-American Development Bank (IDB) 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. In 2007, the IIC reached US$1.2 billion in assets and approved 62 transactions channeling US$470 million to SMEs in the region. 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. For more information on the IIC’s activities, please visit www.iic.int.
Contact: Juan Eduardo Zuluaga
Telephone: (202) 623-3812