S&P lifts Banco Ahorro Famsa view to stable

Standard & Poor's said it revised the outlook on Banco Ahorro Famsa to stable from negative.

The agency also said it affirmed the bank’s B global scale and mxBBB-/mxA-3 national scale ratings.

The outlook revision follows a similar rating action Grupo Famsa, SAB de CV, which directly owns 100% of Banco Ahorro Famsa.

The ratings continue to reflect the bank’s core status to Grupo Famsa since Banco Ahorro Famsa’s business activities are mainly related to the group, S&P said.

The stable outlook reflects the same outlook on its parent since the bank is considered a core subsidiary, the agency added.

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