Fitch affirms Docuformas

Fitch Ratings said it affirmed Docuformas, SAPI de CV's long-term local and foreign currency issuer default ratings at BB- and short-term foreign and local currency ratings at B.

In addition, the long- and short-term national scale ratings were affirmed at A-(mex) and F2(mex), respectively.

The outlook is stable.

“Docuformas' ratings are mainly influenced by its well-positioned and growing franchise among Mexican independent leasing companies built through organic and inorganic growth, although small within the Mexican financial system, as well as its stable and specialized business model that generates recurrent core earnings through the economic cycles,” the agency said in a news release.

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