S&P affirms Hipotecaria

Standard & Poor's said it affirmed the BB long-term counterparty credit rating on Hipotecaria Su Casita SA de CV and long- and short-term national scale ratings at mxA and mxA-2, respectively.

The outlook is stable.

Ratings are limited by the firm's aggressive growth targets, moderate and pressured profitability, tight capitalization and exposure to Mexico's real estate sector, the agency said.

Offsetting these weaknesses are sound market position and geographic diversification, and better-than-average funding diversification despite being limited to wholesale funding, S&P said.

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