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S&P affirms Banco Ahorro Famsa

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S&P affirms Banco Ahorro Famsa

Standard & Poor's Ratings Services said April 13 that itaffirmed its B global scale and mxBBB-/mxA-3 national scale issuer credit ratingson Banco Ahorro Famsa SA Instituciónde Banca Múltiple.

The outlook remains stable.

The issuer credit ratings reflect the bank's core status to GrupoFamsa as S&P believes both entities share the same customer base, brand andreputation. The unit's strategy is closely linked with that of the group so it'shighly unlikely that bank will be sold, S&P said.

The ratings also reflect the bank's weak business position, adequatecapital and earnings, very weak risk position, average funding, and adequate liquidity.

S&P Ratings and GlobalMarket Intelligence are owned by McGraw Hill Financial Inc.