|End-of-day quote - 01/18|
Gentera B de C : 03-06-2020 GENTERA announces the decision made by FITCH Ratings
|06/03/2020 | 10:16pm|
GENTERA ANNOUNCES THE DECISION
MADE BY FITCH RATINGS
Mexico City, Mexico, June 3, 2020 - GENTERA, S.A.B. de C.V., ("GENTERA") (BMV: GENTERA*) informs that Banco Compartamos S.A. I.B.M., the main subsidiary of GENTERA, received a change in its national scale rating by the rating agency FITCH Ratings ("FITCH").
Fitch Ratings changed Banco Compartamos Ratings, keeping the outlook to negative:
-National scale long-term, and senior unsecured ratings were changed to 'AA(mex)' and 'AA(mex)', from 'AA+(mex) and 'AA+(mex)', respectively.
According to the press report issued, Fitch Ratings stated:
"...The adjustment resulted in several rating reviews for issuers in different sectors including financial institutions, corporations, insurers, infrastructure, and regional and local government entities.
Rating reviews are used to modify ratings for reasons that are not related to credit quality in order to reflect changes in national scales in a given country and relative risk levels… "
GENTERA, S.A.B. de C.V. (formerly Compartamos, S.A.B. de C.V.) is a holding company whose primary objective is to promote, organize and manage companies, domestic and international, that are subject to its investment policies. GENTERA was established in 2010 and is headquartered in Mexico. Its shares began trading on the Mexican Stock Exchange on December 24, 2010 under the ticker symbol COMPARC*. On January 2, 2014, the ticker symbol was changed to GENTERA*.
Note on Forward-Looking Statements
This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates of future economic circumstances, industry conditions, Company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.
For additional information, please contact:
Enrique Barrera Flores, Investor Relations Officer
Brenda García Cárdenas, Investor Relations
Telephone: +52 (55) 5276-7379
Gentera SAB de CV published this content on 03 June 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 June 2020 02:15:07 UTC