S&P rates Engencap Holding BB

S&P said it assigned its BB long-term issuer credit rating to Engencap Holding, S de RL de CV (Engenium). The outlook is stable.

Engenium is a leasing and lending company that provides operating and capital leasing specialized products, as well asasset-backed loans, mainly through equipment financing. Engenium will acquire TIP de Mexico, SAPI de CV y Subsidiarias (TIP), which is a Mexican finance company and one of the largest trailer and equipment leasing companies in Mexico.

“The rating on Engenium reflects our view that the company's leveraged buyout of TIP would enhance Engenium's business profile and operating stability,” S&P said in a news release.

© 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.