SAN ANTONIO--(EON: Enhanced Online News)--The North American Development Bank (NADB) has maintained its “Aaa/Prime-1” rating from Moody’s Investor Service, with a stable outlook. NADB, headquartered in San Antonio, Texas, is an international financial institution capitalized and governed equally by the United States and Mexico for the purpose of financing infrastructure projects that improve environmental conditions in the U.S.-Mexico border region.
“strong capital position and liquidity levels have buttressed its balance sheet through a period of significant lending growth”
Moody’s based its high rating on the Bank’s strong capitalization and high level of liquidity, as well as the active involvement of the U.S. Department of the Treasury and the Mexican Ministry of Finance and Public Credit in policy oversight, lending operations and borrowings.
In issuing its annual report on NADB, Moody’s noted that the Bank’s “strong capital position and liquidity levels have buttressed its balance sheet through a period of significant lending growth,” adding that the Bank has “stronger policy and risk oversight than do other multilateral development banks at this rating level.”
As of August 31, 2013, NADB has contracted US$2.16 billion in loans and grants for 184 projects throughout the U.S.-Mexico border region. These projects are estimated to have a total cost of US$5.53 billion and will benefit an estimated 17 million border residents when fully constructed.
NADB has a 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 NADB and its operations can be obtained at www.nadb.org. For more information regarding Moody’s credit analysis, visit www.moodys.com.
The North American Development Bank is a financial institution established and capitalized in equal parts by the United States and Mexico for the purpose of financing environmental infrastructure projects along their common border. As a pioneer institution in its field, the Bank is working to develop integrated, sustainable and fiscally responsible projects with broad community support in a framework of close cooperation and coordination between Mexico and the United States.