North American Development Bank ‘AA’ rating affirmed by Fitch Ratings with a stable outlook 2016
San Antonio, Texas – Today, Fitch Ratings affirmed the ‘AA’ rating of the North American Development Bank (NADB) with a stable outlook.
Fitch cited the Bank’s strong capitalization, its relatively low leverage compared to its closest peers, and its conservative management of credit risk on treasury assets, as well as the control it has maintained over impaired loans, reflecting good underwriting standards. As of December 2015, the Bank has no non-performing loans.
NADB is an international financial institution capitalized and governed equally by the United States and Mexico for the purpose of helping develop and finance infrastructure projects with public- and private-sector sponsors in the U.S.-Mexico border region in the areas of water supply, wastewater treatment, waste management, air quality, urban mobility and clean and renewable energy. As of February 29, 2016, NADB had contracted US$2.59 billion in loans and grants for 219 projects throughout the U.S.-Mexico border region.
NADB is headquartered in San Antonio, Texas, and has total capitalization of US $2.7 billion, of which $405 million is paid-in capital and the remainder is callable capital from the U.S. and Mexican governments. More information regarding the NADB credit rating can be obtained at www.fitchratings.com. More information regarding the NADB and its operations can be obtained at www.nadb.org.