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Banco Ahorro Famsa Assigned 'B' Global Scale And 'mxBBB-/mxA-3' National Scale Ratings; Outlook Stable May 11
Standard & Poors, May 2011
Abstract
Banco Ahorro Famsa (BAF) is highly concentrated in credit cards used exclusively in Famsa stores. We are assigning our 'B' long-term global scale rating and our national scale 'mxBBB-' long-term and 'mxA-3' short-term ratings to the bank. The stable outlook reflects our expectation that the bank will continue to be highly integrated with Grupo Famsa and that it will maintain its asset quality and capital. MEXICO CITY (Standard & Poor's) May 25, 2011--Standard & Poor's Ratings Services said today that it assigned its 'B' global scale counterparty credit ratings to Banco Ahorro Famsa, SA, Instituci-n de Banca Multiple (BAF). We also assigned our 'mxBBB-/mxA-3' Mexican CaVal national scale ratings. The outlook is stable. 'The ratings on BAF reflect its high...
Companies mentioned in this report are: BANCO AHORRO FAMSA, S.A., INSTITUCION DE BANCA MULTI,Grupo Famsa, S.A.B. de C.V.
Action: New Rating
Action: Outlook: Stable
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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