PANAMA CITY, Aug. 1, 2012 /PRNewswire/ -- Banco Latinoamericano de Comercio Exterior, S.A. (Bladex) (NYSE: BLX), announced today that Fitch Ratings upgraded Bladex's issuer Default Ratings ("IDR") to 'BBB+' from 'BBB' with a 'Stable' Outlook.
Fitch Ratings in a press release commented that Bladex "strengthened its balance sheet by improving its funding structure and closing maturity gaps, while maintaining ample liquidity, sufficient capital and outstanding asset quality. In Fitch's view, Bladex has proven that it can face severe crises and has successfully refocused its strategy achieving moderate growth while ensuring a more consistent financial performance."
Mr. Rubens V. Amaral Jr., Bladex's Chief Executive Officer, stated, "Fitch's rating upgrade reflects the financial strength of Bladex, its diversified and recently improved funding structure, and its successful business strategy in Latin America."
Bladex is a supranational bank originally established by the Central Banks of Latin America and Caribbean countries to promote trade finance in the Region. Based in Panama, its shareholders include central and state-owned entities in 23 countries of the Region, as well as Latin American and international commercial banks, and institutional and retail investors.For further information, please access our website on the Internet at www.bladex.com or contact: Bladex, Head Office, Torre V., Business Park, Avenida La Rotonda, Urb. Costa del Este, Panama, Republic of PanamaAttention: Mr. Christopher Schech, Chief Financial OfficerTel.: (507) 210-8630, E-mail: firstname.lastname@example.org Corporate Communications, Inc., 20 Broad Street, 25th Floor, New York, NY 10005Attention: Ms. Melanie Carpenter or Mr. Peter MajeskiTel.: (212) 406-3694, E-mail: email@example.com SOURCE Banco Latinoamericano de Comercio Exterior, S.A. (Bladex)