Fitch affirms, withdraws Metrofinanciera

Fitch Ratings said it affirmed and withdrew Metrofinanciera SAPI de CV, Sofom ER's long-term foreign- and local-currency issuer default ratings at B-. The outlook was revised to positive from stable prior to the withdrawal.

Fitch also upgraded Metrofinanciera's long-term national scale rating to B+(mex) from B-(mex). The outlook on the long-term national rating was also revised to positive from stable.

Management's success in monetizing the entity's operations after several years of recurrent operating losses along with the consistent reduction of the still high impairments, charge-offs and non-productive assets drove the upgrade of Metrofinanciera's national rating and the revision of the outlooks to positive, Fitch said.

The ratings were withdrawn for commercial reasons.

© 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.