trending Market Intelligence /marketintelligence/en/news-insights/trending/nilltkr_vjsgtyovxqr47w2 content esgSubNav
In This List

Fitch downgrades 2 Mexican banks

Blog

Automating Credit Risk Surveillance Using Statistical Models

Blog

Post-webinar Q&A: Speed and Scalability – Automation in Credit Risk Modeling

Case Study

A Chinese Bank Takes Steps to Minimize Risks as it Supports International Trade

Blog

Middle East Africa MA by the Numbers: Q3 2021


Fitch downgrades 2 Mexican banks

Fitch Ratings on Feb. 22 downgraded the national ratings of two Mexican banks.

Fitch lowered Bankaool SA Institución de Banca Múltiple's long- and short-term national ratings to B(mex) from BBB-(mex) and F3(mex), respectively. The downgrade reflects the bank's very limited business and financial profile resulting from the change in its strategic plans, following its acquisition agreement with Grupo Financiero Ve por Más SA de CV.

The bank's ratings are maintained at rating watch evolving, due to the uncertainty regarding the evolution of the bank's future strategy.

Meanwhile, Fitch downgraded Banco Finterra SA Institución de Banca Múltiple's long-term national rating to BBB-(mex) from BBB(mex) and affirmed its short-term national rating at F3(mex). The outlook was revised to negative from stable.

The dip in the bank's ratings and the outlook revision reflect Banco Finterra's negative operating profitability since 2015, which is greater than what was foreseen in its initial conversion plans to a niche bank, due to operating expenses and significant impairments in the quality of its portfolio.