Moody's rates Credito Inmobiliario Baa1.mx

Moody's Investors Service said it assigned Baa1.mx national scale and B1 global scale local-currency issuer ratings to Credito Inmobiliario, SA de CV.

The outlook is stable.

Ratings reflect Credito Inmobiliario's position as the fourth largest non-bank financial institution in Mexico in total loan portfolio size, the agency said.

Ratings also consider the company's experienced management team, good operating margins, loan processing and servicing efficiencies, and technology systems, as well as its good corporate infrastructure, Moody's said.

Challenges include a short operating history, construction financing that can lead to earnings volatility and reliance on Mexico's economic and political environment and support for housing, the agency noted.

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