Moody's may lower Ford Credit de Mexico

Moody's Investors Service de Mexico said it put on review for downgrade the Aa1(mx) long-term Mexican national-scale debt rating assigned to Ford Credit de Mexico, SA de CV Sofol.

At the same time, Moody's said it affirmed the MX-1 short-term Mexican national-scale debt rating following Moody's placement of Ford Motor Credit Co.'s ratings on review for possible downgrade.

Ford Credit de Mexico's debt ratings are based on irrevocable and unconditional guarantees provided by Ford Credit, the agency noted.

Moody's noted that under the Ford Credit umbrella, Ford Credit de Mexico maintains a sound financial standing in terms of asset quality and profitability, which enables it to face the highly competitive environment.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.