Corporacion Financiera de Desarrollo's Proposed Senior Unsecured Notes Rated 'BBB+'

MEXICO CITY (Standard&Poor's) June 23, 2015--Standard&Poor's Ratings Services said today that it assigned its 'BBB+' rating to COFIDE's (BBB+/Stable/A-2) proposed $600 million medium term senior unsecured notes and affirmed its 'BBB+' rating on its senior unsecured notes due in 2019, which were issued in June 2014. The notes due in 2019 will be increased to $500 million from $300 million. The rating on the proposed senior unsecured notes is the same as the long-term issuer credit rating on the Peru-based bank. "We expect the notes to represent COFIDE's unsecured, unsubordinated, and unconditional obligations," said Standard&Poor's credit analyst Cynthia Cohen Freue. The proceeds will be used for general business purposes, including increasing the financing of

...MEXICO CITY (Standard & Poor's) June 23, 2015--Standard & Poor's Ratings Services said today that it assigned its '###+' rating to COFIDE's (###+/Stable/A-2) proposed $600 million medium term senior unsecured notes and affirmed its '###+' rating on its senior unsecured notes due in 2019, which were issued in June 2014. The notes due in 2019 will be increased to $500 million from $300 million. The rating on the proposed senior unsecured notes is the same as the long-term issuer credit rating on the Peru-based bank. "We expect the notes to represent COFIDE's unsecured, unsubordinated, and unconditional obligations," said Standard & Poor's credit analyst Cynthia Cohen Freue. The proceeds will be used for general business purposes, including increasing the financing of its infrastructure and productive investment portfolio. The ratings on COFIDE reflect its "adequate" business position, "adequate" capital and earnings, "strong" risk position, and "average" funding and "adequate" liquidity (as...

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