Obbligazioni societarie HIGH YIELD e oltre, verso frontiere inesplorate - Vol. 2 (6 lettori)

bia06

Listen other's viewpoint avoid conflicts & wars.
Male.......downgrade ed outlook negativo.....


Fitch Downgrades Credito Real's IDRs to 'BB' from 'BB+'; Outlook Negative
Thu 17 Jun, 2021 - 5:56 PM ET


Fitch Ratings - Monterrey - 17 Jun 2021: Fitch Ratings has downgraded Credito Real, S.A.B. de C.V., SOFOM, E.N.R.'s (Credito Real) Long-Term (LT) Foreign and Local Currency Issuer Default Ratings (IDRs) and its global senior unsecured debt rating to 'BB' from 'BB+', the perpetual bonds ratings to 'B+' from 'BB-' and affirmed Short-Term (ST) Local and Foreign Currency IDRs at 'B'. Fitch also downgraded Credito Real's LT National Ratings to 'A(mex)' from 'A+(mex)' and affirmed its ST National Rating at 'F1(mex)'. The Rating Outlook of the LT IDRs and LT National Rating is Negative.
The downgrade reflects heightened pressures on Credito Real´s capitalization, lower earnings generation and deteriorated asset quality metrics. Fitch believes that Credito Real's current and expected weakened financial profile reflect progressive changes in its business model from recent changes in the Mexican Social Security Institute (IMSS, 17% of the total portfolio) commercial conditions and from increased exposures to less profitable and more impairment-sensitive segments, such as SMEs, which now represents 23% of the total portfolio.
 

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