S&P affirms Infonavit

Standard & Poor's said it affirmed the BBB+/A-2 local-currency and BBB/A-3 foreign-currency counterparty credit ratings on Instituto del Fondo Nacional de la Vivienda para los Trabajadores (Infonavit).

The agency also said it affirmed the mxAAA/mxA-1+ Mexican national scale ratings.

The outlook is stable.

The one-notch difference between the local- and foreign-currency ratings is based on the agency's government-related entity criteria.

The ratings continue to reflect what is considered to be its strategic importance to the United Mexican States, S&P said.

This stems from its critical role in the government's public housing policy and very strong link to the government, the agency said.

Any financial distress at Infonavit would cause a severe disruption in the Mexican housing industry and might affect other government-related issuers' access to debt markets, S&P said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.