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S&P keeps negative view on Engencap
S&P said it kept Engencap Holding, S de RL de CV’s negative outlook and affirmed the company’s BB rating long-term issuer credit rating.
The negative outlook for the next two years reflects the negative trend in Mexico's banking industry country risk assessment economic risk, S&P said in a news release.
“Such a scenario would exacerbate the operating conditions for local financial institutions – including Engenium – and could weaken the ratings on these entities,” S&P said.
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