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Fitch affirms Banco Compartamos with a stable outlook

Fitch Ratings on April 28 affirmed Banco Compartamos SA Institución de Banca Múltiple's long-and short-term issuer default ratings at BBB and F2, respectively, with a viabilityrating of bbb.

The rating agency also affirmed the bank's national scale long-and short-term ratings at AA+(mex) and F1+(mex), respectively.

The outlook is stable on the long-term ratings.

In affirming the ratings, Fitch pointed to Banco Compartamos'"exceptionally strong profitability, a robust and solid capital base and adequateliquidity profiles." It also asserted that the company stands "significantlyabove its closest peers in the micro finance industry and the overall banking system."The bank's leadership in Mexico among group lenders for working capital and itspressured, yet contained, asset quality also influenced the ratings.

Still, Fitch expects that future upgrades of the bank's viabilityrating or issuer default ratings to be limited, given its "current niche orientationand wholesale funding nature."