S&P: Financiera Independencia on negative watch

Standard & Poor's said it placed the BB- long-term counterparty credit rating on Financiera Independencia SAB de CV Sofom, ENR on CreditWatch with negative implications.

The action follows news that Financiera Independencia signed an agreement to acquire Apoyo Economico Familiar SA de CV Sofom, ENR and a 77% ownership share in Apoyo Financiero Inc.

Both companies are primarily focused on consumer and microfinance lending, the agency said.

S&P said this acquisition could affect the company's financial profile with a large amount of goodwill that could significantly pressure the company's adjusted capitalization.

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