Fitch affirms Bepensa; outlook negative

Fitch Ratings said it has affirmed the BBB foreign and local currency issuer default ratings of Bepensa SA de CV.

The outlook has been revised to negative from stable.

The outlook revision reflects Fitch's concern about the declining economic environment in Mexico and the potential negative impact it could have on Bepensa's subsidiary Financiera Bepensa SA de CV during 2009.

The agency added that Financiera Bepensa was created within the past four years with a purpose of extending credit to companies and individuals that purchase machinery, automobiles and equipment from Bepensa's sister company, Bepensa Motriz.

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