Moody's rates Findep notes B1

Moody's Investors Service said it assigned a B1 long-term foreign-currency senior debt rating to Financiera Independencia, SAB de CV's (Findep) outstanding $250 million of 2024senior unsecured notes issued in 2017.

“The B1 senior unsecured debt rating incorporates Findep's strong capitalization, at 35% of total assets as of June 2022, high profitability, and the level of ample reserves against credit losses, which helps to mitigate the high risk of its unsecured consumer loan book,” Moody’s said in a press release.

The outlook is stable.

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