Standard & Poor´s upgrades FONPLATA´s ratings to A, citing "stronger presence in Latin America"
Rating agency Standard & Poor´s upgraded FONPLATA´s long term credit rating to ´A/A-1´ from ´A-/A-2´, given its stronger presence in Latin America and strengthened risk and operational capabilities, placing FONPLATA among the best in Latin America
S&P said in a statement that FONPLATA has demonstrated capacity to respond to member countries´ needs, executing its mandate and achieving consistently its lending targets while maintaining robust capitalization, ample liquidity, and a pristine preferred creditor treatment (PCT) track record.
Juan Notaro, FONPLATA´s CEO, said: "We are pleased with the rating upgrade as it recognizes our efforts over the past years to consistently execute our mandate, strengthening the value for our member countries, while building operational capabilities. The upgrade demonstrates our accomplishment in effectively playing a countercyclical role by increasing our lending activity even during unprecedented times as it was during the COVID-19 pandemic, while maintaining a healthy loan portfolio and a strong financial and risk profile".
Seen Standard & Poor´s report: