Moody's drops Su Casita

Moody's Investors Service said it downgraded Hipotecaria Su Casita, SA de CV's senior unsecured debt rating to Caa2 from B2, global-scale local currency issuer rating to Caa2 from B2 (national-scale issuer rating to Caa2.mx from Baa3.mx) and long-term corporate family rating to Caa2 from B2.

The ratings were placed on review for possible further downgrade.

According to the agency, this rating action follows the announcement on Sept. 10 that negotiations with BBVA Bancomer to purchase a portion of Su Casita's loan portfolio had ceased due to an inability to reach agreement on valuation.

© 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.