S&P Global Ratings upgraded Bladex's long-term issuer credit rating to 'BBB+' from 'BBB' and affirmed its short-term issuer credit rating at 'A-2' with a stable outlook. The agency also upgraded the Bank's senior unsecured notes to 'BBB+' and its Tier 1 hybrid notes to 'BB'. The upgrade is attributed to solid asset quality, diversified portfolio, and strong capitalization. Bladex is a financial services company that provides financing for foreign trade in Latin America.
