News

Fitch Ratings has assigned North American Development Bank (NADB) a 'AAA(mex)' National Long-Term Rating. The Outlook is Stable.

NADB's Long-Term Issuer Default Rating (IDR; AA+/Stable) is materially above Mexico's sovereign Long-Term IDR (BBB-/Stable). Consequently, the bank's rating on the Mexican National Rating Scale is 'AAA(mex)'.

To read Fitch's report related to NADBank’s credit rating, please click here

U.S. Ambassador to Mexico Ken Salazar and Mexican Ambassador to the U.S. Esteban Moctezuma inaugurated the U.S.-Mexico Border Environmental Forum (BEFXXVI) being held in San Antonio, Texas from August 24-25.

San Antonio, Texas –The North American Development Bank (NADBank) signed a US$46.9-million loan for the Zier Solar and Energy Storage Project under development by Cypress Creek Renewables on Aug. 12, 2022. The project consists of the design, construction, and operation of a 208MW solar farm and a 40MW/ 80MWh, battery energy storage system (BESS) located in Kinney County, Texas. Upon completion, the project will increase the installed capacity of renewable energy resources and energy storage in the Texas grid.

San Antonio, Texas – The North American Development Bank (NADBank) is hosting the U.S.-Mexico Border Environmental Forum XXVI on August 24 and 25 at the International Center in downtown San Antonio, Texas. With the theme “Creating a Greener and More Prosperous Border” the event focuses on cross-border partnerships, climate finance and environmental, social and governance (ESG) trends, climate change mitigation and adaptation, clean energy and water, among other topics.  Featuring top U.S. and Mexican officials, the two-day event is an opportunity to analyze about sustainable development that can help improve the environment in the border region.

NADBank Managing Director Calixto Mateos shares the experience, work strategies and next steps of this binational bank in support of sustainable projects that improve the environment of the region.

Fitch revised its assessment of shareholders' capacity to support the bank to 'aaa' from 'aa+', as callable capital from the United States (AAA/Stable) now fully covers NADB's net debt. Support capacity and a stable US sovereign outlook are key drivers of the rating.

To read Fitch's report related to NADBank’s credit rating, please click here

• Green Loan Program is designed to finance environmental sustainability for small, rural and other borrowers with limited access to NADBank financing through loans to financial intermediaries
• US$156 million in financing approved for three new environmental infrastructure projects in Texas and Chihuahua communities

NADBank's credit profile reflects the bank’s high capital adequacy and liquidity position, and strong support from the US (Aaa stable) and Mexico (Baa1 negative), its two shareholder members. 

San Antonio, Texas – The North American Development Bank (NADBank), Siemens Financial Services, Inc. (Siemens) and EnerSmart Storage OpCo II, LLC signed a US$78.2 million loan facility to finance the design, construction, and operation of a portfolio of utility scale energy storage projects with a combined capacity of 165 megawatts in alternating current (MW_AC) that will be constructed at nine sites located within San Diego County, California. This is the first reported project financing of fully merchant battery storage projects in the United States. 

Fitch Ratings - London - 15 Mar 2022: Fitch Ratings has affirmed The North American Development Bank's Long-Term Issuer Default Rating (IDR) at 'AA' and Short-Term IDR at 'F1+'. The issue ratings on NADB's senior unsecured bonds are also affirmed at 'AA'. The Outlook on the Long-Term IDR is Stable.