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Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Banco Latinoamericano de Comercio ExteriorGlobal Credit Research - 24 Jan 2022New York, January 24, 2022 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Banco Latinoamericano de Comercio Exterior and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review discussion held on 19 January 2022 in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. The review did not involve a rating committee. Since 1 January 2019, Moody's practice has been to issue a press release following each periodic review to announce its completion.This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future. Credit ratings and outlook/review status cannot be changed in a portfolio review and hence are not impacted by this announcement. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on www.moodys.com for the most updated credit rating action information and rating history.Key rating considerations are summarized below.Banco Latinoamericano de Comercio Exterior, S.A. (Bladex)'s Baa2 deposit and debt ratings reflect its baa2 standalone baseline credit assessment (BCA). Bladex's ratings do not incorporate any uplift from government support because it is a supra-regional bank, with no true lender of last resort.Bladex's baa2 BCA reflects its strong core capitalization and good asset quality supported by its focus on lending to financial institutions and large corporates. The predominantly short-term nature of loans provides Bladex's flexibility in loan origination as evidenced by its ability to shift its portfolio to countries with stronger operating conditions, while reducing exposure to riskier economic sectors. The standalone credit profile is also supported by Bladex's large and stable base of deposits from the bank's shareholders, which are mostly central banks from various Latin American countries, and which have supported Bladex's business strategy and strengthened its funding structure. Profitability is modest because of narrow net interest margin in line with the bank's conservative risk taking.This document summarizes Moody's view as of the publication date and will not be updated until the next periodic review announcement, which will incorporate material changes in credit circumstances (if any) during the intervening period.The principal methodology used for this review was Banks Methodology published in July 2021. Please see the Rating Methodologies page on www.moodys.com for a copy of this methodology.This announcement applies only to EU rated, UK rated, EU endorsed and UK endorsed ratings. Non EU rated, non UK rated, non EU endorsed and non UK endorsed ratings may be referenced above to the extent necessary, if they are part of the same analytical unit.This publication does not announce a credit rating action. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on www.moodys.com for the most updated credit rating action information and rating history. Anna Chabanenko Analyst Financial Institutions Group Moody's de Mexico S.A. de C.V Ave. Paseo de las Palmas No. 405 - 502 Col. Lomas de Chapultepec Mexico, DF 11000 Mexico JOURNALISTS: 1 888 779 5833 Client Service: 1 212 553 1653 Ceres Lisboa Associate Managing Director Financial Institutions Group JOURNALISTS: 0 800 891 2518 Client Service: 1 212 553 1653 Releasing Office: Moody's Investors Service, Inc. 250 Greenwich Street New York, NY 10007 U.S.A. JOURNALISTS: 1 212 553 0376 Client Service: 1 212 553 1653 © 2022 Moody’s Corporation, Moody’s Investors Service, Inc., Moody’s Analytics, Inc. and/or their licensors and affiliates (collectively, “MOODY’S”). 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