BRIDGETOWN, Barbados – The Caribbean Development Bank (CDB) has received a Long-Term Issuer Default Rating of ‘AA+’ with a Stable Outlook from Fitch Ratings, reflecting the institution’s strong liquidity and excellent capitalisation. This rating highlights CDB’s solid financial performance and high governance standards amidst ongoing economic recovery efforts in the region.
Fitch Ratings’ affirmation is supported by several key factors:
- Appointment of New President: Daniel Best has been appointed as the new president of CDB, effective February 2025. Fitch notes that this transition aligns with the bank’s commitment to maintaining high governance standards.
- Sturdy Capitalisation: CDB’s capital levels have stabilized to pre-pandemic conditions, demonstrating resilience bolstered by strong loan performance and high solvency, reinforcing the institution’s financial stability.
- Exceptional Liquidity: CDB has been assessed with very high liquidity, attributed to strong liquidity buffers and the excellent credit quality of its treasury portfolio.
This ‘AA+’ rating serves as a testament to CDB’s financial strength and sound governance during a critical period for the region’s economic recovery.
CDB President Daniel Best stated, “We are pleased with the affirmation of our credit rating, which highlights the robustness of CDB’s financial health and governance. This enables us to continue mobilising resources effectively to support our Borrowing Member Countries in their sustainable development goals.”
As CDB remains dedicated to uplifting the Caribbean region, alleviating poverty, and fostering economic growth, this rating reinforces its capability to address the developmental challenges faced by the region, particularly during recovery periods.
