Risk Assessment Office Fitch Ratings released national long-term rating of National Development Finance in AAA with stable prospects. Similarly, short-term rating remained in F1 + (col). In turn, Fitch also confirmed long-term international rating at BBB with stable outlook and the international short-term value in F2.
The credit rating agency assessed the strategic importance of the company for carrying out infrastructure projects in the country, in particular financing the construction of 4G tracks and other projects.
Read in sports: OFFICIAL !: The final between Boca and River is off
"Fitch's decision to maintain FDN's rating in AAA, its positive assessment of financial results and unity of the company as well as recognition of the work we carry out for the development and funding of infrastructure projects." He is happy and happy to continue working the way we have done it. This confirms the solidity of the business model, the team's professionalism and robust corporate governance that guarantee a technical and serious decision-making process, "said Clemente del Valle, FDN's chairman.
For Fitch, FDN is one of the only banks focused on financing infrastructure projects and therefore its role in this sector has expanded. Thus, the loans have increased as part of the balance, a trend that Fitch expects to remain in the rating horizon.
The credit rating agency noted that from June 2018 there are no criminal loans and the debtors' concentration remains high in line with their business model.
He also pointed out that the operating profit on assets weighed by the risk level improved to 2.18% and is in line with goals for the unit's financial sustainability.
Likewise, it stated that the liquidity and capitalization of FDN is still robust, given that accelerating growth in the markets for financing infrastructure projects is new. From June 2018, investments available for sale, cash and the like cover 118% of funding. The FDN risk assessments are adapted to the Colombian sovereignty.