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S&P lowers Banco Ahorro Famsa view to negative
S&P said it revised the outlook on Banco Ahorro Famsa to negative from stable.
The agency also said it affirmed the B global scale and mxBBB-/mxA-3 national scale ratings on the bank.
The outlook revision follows the similar action on Grupo Famsa SAB de CV, which owns 100% of the bank.
The agency said it believes the bank is a core entity of Grupo Famsa.
The negative outlook reflects the same outlook on its parent bank because the bank is considered a core subsidiary and its ratings will continue to move in tandem with the parent's ratings, S&P said.
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