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MEXICO CITY, Aug 16 (Reuters) – S&P World Scores will decrease its rankings start line for Mexican non-bank monetary establishments (NBFI) to BB-minus from BB, citing financing dangers, the rankings company stated on Tuesday.
The company stated non-bank monetary establishments had been already dealing with difficult funding circumstances, on account of their heavy debt burden within the years to return and investor confidence on this sector eroding.
The state of affairs for these establishments grew to become much more tough after the announcement final week that Mexican leasing agency Unifin would miss principal and curiosity funds, S&P stated. learn extra
S&P stated its rankings motion “displays our view that the elevated funding and financial dangers for NBFIs are widening the hole between them and banks working in Mexico.”
On Monday, Unifin stated Chairman Rodrigo Lebois would lead the corporate’s monetary restructuring beginning this week.
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Reporting by Kylie Madry; Modifying by Leslie Adler and Sam Holmes
Our Requirements: The Thomson Reuters Belief Rules.
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