S&P removes Unifin from watch

S&P said it removed Unifin Financiera SAB de CV’s ratings from negative watch and affirmed the BB- global scale and mxA- national scale ratings. The agency also affirmed its BB- and B- issue-level ratings on Unifin's senior unsecured notes and subordinated perpetual notes, respectively.

The outlook is negative.

The negative outlook mirrors the “tough operating conditions in Mexico that will increase delinquency levels and credit losses,” S&P said in a press release.

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