Facebook
Delicious
Digg
Yahoo
MeneameFitch Ratings has assigned a first time ratings of Promedio(mex) and BB+(mex) to Mexican mortgage lender Hipotecaria Vanguardia, according to a Fitch statement sent to the local stock exchange on Tuesday.
The Promedio(mex) rating indicates that the company as a financial intermediary has acceptable human resources, procedures, and risk management systems in place, while the BB+(mex) rating reflects Vanguardia's higher credit risk compared to other borrowers or issuers of debt on the local market.
Vanguardia was set up in February 2002 as a specialized lending institution, or Sofol, operating in the home loan market. The company had assets of 1.25bn pesos (US$111mn) at the end of July this year.
Sofoles are important players in the home loan market, which has been neglected by banks since the 1995 financial crisis. Sofoles saw their loan portfolios grow 188% last year to 61bn pesos.
0
Comentarios