Fitch Ratings on Aug. 29 revised the outlook on both Corporativo GBM SAB de CV and Grupo Bursátil Mexicano SA de CV Casa de Bolsa to negative, from stable.
At the same time, the long- and short-term national counterparty risk ratings on both entities were affirmed at AA(mex) and F1+(mex), respectively.
The revised outlook reflects negative financial results that the companies have reported recently, as well as the challenges they face in addressing these results amid an already-adverse economic environment, Fitch said.
However, the rating agency noted that stability in both companies' capitalization, asset quality and liquidity serve to support both their financial profiles, which are consistent with their ratings. At the same time, it cautioned that there is a possibility of a ratings downgrade if negative results persist or lead to material deterioration in capitalization and liquidity.
