Ratings roundup: BDP bonds, Infonavit

- Friday, November 4, 2011

Ratings roundup: BDP bonds, Infonavit

Bolivian development bank Banco de Desarrollo Productivo's (BDP) bonds received first time ratings from Moody's and Fitch, according to press releases from the ratings agencies.

Moody's assigned long and short-term global local currency issuer ratings of B1 and long and short-term national scale local currency issuer ratings of Aa2.bo and BO-1 to, all with stable outlook.

Fitch assigned national scale rating of AAA(bol) to the bonds.

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BDP is 80% state-owned, through Bolivia's economic and public finance ministry.

To read Moody's full report, go to this link

To read Fitch's full report, go to this link

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Moody's also assigned to state-owned lender (Infonavit) a first-time overall assessment of Above Average as an originator of social interest residential mortgage loans in Mexico.

Moody's overall assessment is based on three component assessments - an assessment of Above Average for Infonavit's loan performance; an assessment of Above Average for its originator ability; and an assessment of Strong for its originator stability.

The ratings agency's originator assessment is designed to determine if an originator's future loan performance will be the same, better or worse than the historical performance based on its current lending practices and financial stability, without regard to servicer ability or prevailing macroeconomic conditions after loans are originated.

Moody's originator assessment scale consists of Strong, Above Average, Average, Below Average and Weak.

To read the full report, go to this link