Ratings roundup: Fondo Financiero Privado Fassil, Banco Autofin, BBVA Bancomer Sonora

- Monday, November 21, 2011

Ratings roundup: Fondo Financiero Privado Fassil, Banco Autofin, BBVA Bancomer Sonora

Moody's has assigned a national scale rating of A1(bo) to Bolivian microfinance institution Fondo Financiero Privado Fassil's subordinated debt program totaling 27mn bolivianos (US$3.92mn), according to a Moody's press release.

A global scale rating of B3 was also assigned to the subordinated debt program and the outlook for all of the ratings is stable.

Fondo Financiero Privado Fassil has its headquarters in Santa Cruz with 75,000 active clients and it has carried out more than 364,000 loan transactions.

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Moody's has withdrawn all ratings for Mexican vehicle financing company Autofin, according to a press release from the ratings agency.

The outlook for all ratings before withdrawal was stable.

Before the withdrawal, Banco Autofin had long term ratings of global scale B3 and local scale Ba2(Mex). It also had a financial strength rating of E+, according to the release.

The bank's short-term global scale rating was not prime, and the short-term national scale rating was MX-4, the release said.

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Fitch has assigned a national scale rating of AA(mex) to a loan approved from Mexican bank BBVA Bancomer to the state of Sonora for up to US$736mn pesos (US$52.3mn), the ratings agency said in a press release.

The loan was legally registered in December 2010 to the irrevocable trust fund and source of payments of the state and it will be used for the refinancing of two loans from 2006 and 2009, according to the release.

Fitch also said that the rating reflects the high quality and stable outlook of the A(mex) rating for the state of Sonora, as well as the financial strength of the irrevocable trust fund which sets out the terms of the loan.

BBVA Bancomer is Mexico's largest bank in terms of deposits and loans.