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Fitch affirms national rating of Mexico's Pensiones Sura

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Fitch affirms national rating of Mexico's Pensiones Sura

Fitch Ratings on Dec. 18 affirmed the AAA(mex) national rating, with a stable outlook, of Pensiones Sura SA de CV.

The affirmation is based on the support of Pensiones Sura's controlling shareholder and group, SURA Asset Management, which is part of Grupo de Inversiones Suramericana SA. The rating of Pensiones Sura considers the ability and willingness of Grupo Sura to provide support, if necessary, because Fitch believes the Mexican subsidiary is important to the group.

Despite being a small operation for the group, the entity is key for its direct shareholder and a complementary product for the group's global strategy in Mexico, the rating agency noted.