The Spanish Defense Industry - Market Opportunities and Entry Strategies, Analyses and Forecasts to 2016
- Published: November 2011
Strong capital and earnings; Adequate business stability and effective business strategy; and Average funding profile and "adequate" liquidity position. Moderate risk and business diversification; and The Mexican sovereign foreign currency credit ratings (BBB/Stable/A-3) constrain Inbursa's counterparty credit ratings. The stable outlook on Banco Inbursa S.A. reflects our expectation that the bank will maintain its "strong" capital and earnings with healthy asset quality. We also expect moderate growth during 2012, with nonperforming assets of about 3.0%, which its reserves fully cover. We also expect the bank to maintain its earnings, measured by core earnings to average adjusted assets, at about 1.5% during the next two years. We could lower the ratings if Inbursa's asset quality deteriorates, leading to higher credit losses....
Companies mentioned in this report are: Banco Inbursa S.A.,Inversora Bursatil S.A. de C.V. Casa de Bolsa
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: Full Analysis
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Banco Inbursa S.A.,Inversora Bursatil S.A. de C.V. Casa de Bolsa
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