Fitch Ratings on Dec. 4 affirmed its national scale ratings on three Costa Rica-based credit unions.
The rating agency affirmed Cooperativa Nacional de Educadores RL's national long-term rating at AA-(cri), with a stable outlook. The rating reflects the firm's robust equity and capitalization, its consolidated business model, good credit portfolio quality, and modest profitability, among other factors.
Fitch also affirmed Mutual Cartago de Ahorro y Préstamo's long- and short-term national ratings at A(cri) and F1(cri), respectively, with a stable outlook on the long-term rating. The ratings are based on intrinsic strengths stemming from the company's specialized business model, strong quality of its portfolio and adequate profitability.
Meanwhile, Caja de Ahorro y Préstamos de la Asociación Nacional de Educadores' long-term national rating was affirmed at AA+(cri), also with a stable outlook. In addition to the firm's dependence on Costa Rica's government, this rating reflects its solid capital levels and strong profit generation capacity, Fitch said.
