Fitch Ratings on Oct. 12 assigned BBB+ long-term foreign and local currency issuer default ratings and F2 short-term foreign and local currency issuer default ratings to Asigna Compensación y Liquidación F/30430 Fiso Bancomer SA.
At the same time, Fitch affirmed the company's long- and short-term national ratings at AAA(mex) and F1+(mex), respectively. The outlook on the long-term ratings is stable.
Asigna's ratings are driven by the ability and propensity of support from ultimate parent Bolsa Mexicana de Valores SAB de CV, Fitch said, adding that Asigna is the only central counterparty for the Mexican derivatives market and is also "a key part of its parent company's businesses and services."
"The propensity [of support] also factors in Fitch's opinion that a default of Asigna would constitute a high reputational risk for its ultimate parent company," the rating agency said.
Fitch believes Asigna's operational framework, systems, technological tools, controls and back-office operations are adequate for its operated volumes, although exposure to counterparty risk is high.