Fitch rates Infonavit BBB

Fitch Ratings said it assigned the following ratings to Instituto del Fondo Nacional de la Vivienda para los Trabajadores (Infonavit): a BBB long-term foreign-currency issuer default rating, a BBB+ long-term local-currency issuer default rating, F2 short-term foreign- and local-currency ratings, a 2 support rating, a BBB support rating floor, an AAA(mex) long-term national-scale rating and an F1+(mex) short-term national-scale rating.

The outlook is stable.

The agency said Infonavit's ratings reflect the high priority that the Mexican government places on housing-finance policies and social development goals. The issuer default ratings assigned are the same as Mexico's sovereign ratings, which reflects Fitch's expectation that there is a high probability of support coming from Mexican authorities to Infonavit if needed.

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