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In 1993, CAF received an Investment-Grade rating for its long-term debt from three of the most important rating agencies in the world: Standard & Poor's, Moody's Investors Service and Fitch Ratings.

This distinction allowed CAF to differentiate itself from other Latin-American issuers, becoming the first to obtain these ratings simultaneously, which have been ratified and improved since then.

CAF´s success in accessing the international capital markets is mostly due to the high credit ratings that it has received from these agencies.

In fact, CAF´s ratings are among the highest of Latin American debt issuers.

These agencies have recognized the Corporation’s outstanding creditworthiness based on its legal structure and financial soundness, which has been substantiated by solid financial indicators and results, as well as the continued support of its shareholders through the years, even during periods of economic and political turmoil in the region.

Key aspects that have earned CAF its credit ratings:
  • Continued growth and diversification of lending operations
  • Sound asset quality
  • Strong liquidity and capitalization levels
  • Preferred creditor status and committed shareholder countries
  • Broadening of shareholder base
  • Consistent profitability
  • Strengthening of policies and limits

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Annual Report 2011
.PDF - 6.63 MB
2011 Fact sheet
.PDF - 924 KB
caf-research-update-dec12-S&Ps
.PDF - 272KB
CAF Credit Analysis Aug12 - Moodys
.PDF - 1.89 MB
CAF Credit Analysis Mar12 -FitchRatings
.PDF - 335KB
CAF Press Release Feb13 -JCR
.PDF - 47.2 KB