The rating agency regards CIFI as financially strong and a high credit quality issuer
CIFI (Corporación Interamericana para el Financiamiento de Infraestructura), the non-bank financial institution with most experience in financing infrastructure and energy in Latin America and the Caribbean, has been rated “PA AA-”, “stable outlook”, by PCR-Pacific Credit Rating.
PCR-Pacific Credit Rating, a company that specializes on Financial Ratings in Latin America, backs with this rating CIFI’s financial strength as issuer of high credit quality for the Panamanian market.
CIFI’s rating is based on the long track record of its shareholders, the firm’s good solvency levels and easy access to financing. PCR highlights that, despite the concentration of CIFI’s loan portfolio, given its specialization in infrastructure projects, the portfolio has a large level of real guarantees and shows a dynamism that affords good levels of profitability.
The report valued positively CIFI’s corporate strategy, which moved its headquarters in Panama City last June with the objective of taking advantage of the closest proximity to the Region to further boost its activity.
Broad equity strength
In its report, PCR highlights CIFI’s broad equity strength, strengthened by the composition of its multilateral shareholders – financial institutions for development and commercial banks with a long track-record in the financial markets. The agency also points at CIFI’s low leverage ratio (2.04 times) and its capital adequacy ratio of 31.16%, higher than the minimum established (20%) as a domestic policy, and CIFI’s easy access to finance from banks and multilateral agencies.
The Inter-American Corporation for infrastructure financing (CIFI) is the leading non-banking financial institution in the financing of infrastructure and energy in Latin America and the Caribbean. Created in 2001, it offers advice to companies, Governments and developers to structure the financing of new projects or expansion, to identify investment opportunities for potential investors. It also facilitates loans to businesses with assets between 30 and 200 million dollars for the development of infrastructure in the Region.