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S&P affirms UNIFIN Financiera's ratings

S&P Global Ratings on Dec. 19 affirmed UNIFIN Financiera SAB de CV SOFOM ENR's BB issuer credit and issue-level ratings and mxA/mxA-2 national scale counterparty credit rating.

The ratings reflect the bank's forecast risk-adjusted capital ratio of about 7.3% for the next 12 months and a risk position reflecting subpar reserve coverage with asset quality metrics in line with peers.

The company's strengths stem from its stable and growing business operations oriented toward pure leasing activities, primarily in the small and medium-sized enterprise lending sector, S&P said. The company also displays more diversified funding sources compared to peers and sufficient liquidity levels.

The company's outlook remains stable.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.