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Fitch affirms Bladex's ratings

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Fitch affirms Bladex's ratings

Fitch Ratingson July 25 affirmed the ratings of BancoLatinoamericano de Comercio Exterior SA, or Bladex, as it remains resilientamid the economic slowdown in the countries where it operates.

Fitch maintainedBladex's long-term foreign currency issuer default rating at BBB+ and viabilityrating at "bbb+." It also affirmed the bank's short-term foreign currencyissuer default rating at F2, support rating at 5 and support rating floor at NF.The outlook is stable.

The rating agencybelieves the bank can absorb some cyclical deterioration in its asset quality andpotential earnings in the short term, caused by the soft phase of its operatingcountries' economic cycles, without altering its financial profile.

The ratingsare highly influenced by the bank's sound risk management and asset quality, Fitchsaid. "Bladex's robust management of balance sheet risks in its region of operationover time has underpinned its solid asset quality ratios and resulted in minimallosses since its inception," the agency added.

The bank ischaracterized by its strong loan quality, a well-matched balance sheet, sound andadequate FCC ratio, and a historically sound and resilient performance, Fitch noted.