Reybanpac assigned the highest credit rating by the agency BankWatch Ratings of Ecuador

The rating agency, BankWatch Ratings of Ecuador, assigned AAA rating to Reybanpac's Second Commercial Paper Issuance Program as a result of its analysis.

In its report, BankWatch Ratings establishes that Reybanpac is a mature company with extensive knowledge and participation in its market, and with a strong competitive position. The diversification of its market and the relationship it maintains with its main customers and suppliers stand out. “As of April-2020, the revenue growth in the banana business line is a clear indicator that the company has not been affected by macroeconomic conditions by participating within a priority sector and that its position in international markets and customer diversification allows it to generate sustainable income over time.”

Thanks to proper management, Reybanpac has a solid financial position, which added to the structuring of long-term indebtedness and “combined with an indicator of financial expense coverage that is expected to remain at comfortable levels, provides in our opinion a high financial flexibility to the issuer within the term of the qualified program.”

According Vicente Wong, Reybanpac’s Executive Vicepresident, the position the company has achieved is the result of a clear and consistent direction, as well as an adequate management model. “In our more than 40 years of experience we have strived to achieve sustained growth that is based on solid corporate values, sustainable production committed to social and environmental issues, a strong commercial strategy, responsible management of resources and finances, and an innovative vision.”

Today, July 14th, the negotiation of the commercial paper in the local market begins. These resources will contribute to the growth of the company accompanying the working capital needs derived from the increase in sales.