S&P Global Ratings affirms CDB strong rating
Dec 06, 2024
Kaieteur News- The Caribbean Development Bank (CDB/the Bank) has announced that S&P Global Ratings recently affirmed its ‘AA+/Stable/A-1’ rating.
The stable outlook reflects the agency’s view that CDB will continue to uphold high capitalisation levels and manage its balance sheet prudently, the bank said in a release.
The Bank has a strong record of fulfilling its mandate through the credit cycle with an extremely strong financial risk profile and a very strong enterprise risk profile. CDB’s risk-adjusted capital (RAC) ratio stands at 29.7%, based on June 30, 2024, financial data, showcasing the Bank’s robust capitalisation, liquidity and low leverage. The Bank’s effective management of its portfolio, including its balanced use of regular and concessional resources, further underscores its strong financial position.
CDB’s adherence to internal policy limits, improvement of its risk management with an enhanced Enterprise Risk Management Framework in 2024, as well as active implementation of balance-sheet optimisations to strengthen its capital base, are testaments to its commitment to sound governance and risk management.
For CDB, the stable outlook from S&P Global Ratings reflects the Bank’s capacity and confidence in its mission to support the development and sustainable growth of Caribbean economies, even amid global economic challenges and natural disasters.
(S&P Global Ratings affirms CDB strong rating)
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