Moody's lifts Value Casa de Bolsa view to positive

Moody's Investors Service said it affirmed Value, SA de CV Casa de Bolsa's long- and short-term global local currency Ba3/not-prime issuer ratings and changed the outlook to positive from stable.

At the same time, Moody's de Mexico affirmed Value's A3.mx/MX-2 long- and short-term Mexican National Scale ratings. The outlook on these ratings is also positive.

The positive outlook reflects the broker dealer's ability to consistently grow its operations following a low-risk business model and maintaining a highly capitalized operation. Particularly important is Value's success in leveraging its agency trading business to support its franchise value as reflected by its good core earnings generation and comfortable levels of pre-tax margins over time, Moody's said.

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