|End-of-day quote - 09/29|
Gentera B de C : 10-04-2019 Gentera announces the decision made by Fitch Ratings
|10/02/2019 | 08:09pm|
GENTERA ANNOUNCES THE DECISION
MADE BY FITCH RATINGS
Mexico City, Mexico, April 10, 2019 - GENTERA, S.A.B. de C.V., ("GENTERA") (BMV: GENTERA*) informs that Banco Compartamos S.A. I.B.M., the main subsidiary of GENTERA, was affirmed today in its Viability Rating (VR), as well as its foreign- and local-currencylong and short- term Issuer Default Ratings (IDRs). Its National scale long- and short-termratings were also affirmed.
Fitch Ratings took the following actions:
-Long-term foreign and local currency IDRs at 'BBB', Outlook Negative; -Short-term foreign and local currency IDRs at 'F2';
-Viability Rating at 'bbb'; -Support Rating at '5'; -Support Rating Floor at 'NF'.
-National-scalelong-term rating at 'AA+(mex)', Outlook Stable; -National-scaleshort-term rating at 'F1+(mex)';
-National-scalelong-term rating for local issues of senior unsecured debt at 'AA+(mex)'.
According to the press report issued earlier today, Fitch stated:
"…The bank's IDRs, national and senior debt ratings consider its VR. Fitch factors in as a high- influence factor for Compartamos' VR its strong franchise and leadership in the microfinance segment in Mexico (group lending for working capital), its ability to adapt its business model to challenging conditions like portfolio contraction and higher impairments while maintaining strong profitability metrics although lower, and the ample recognition of the brand on its core business…"
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
Félix Martínez Escamilla, Investor Relations
Telephone: +52 (55) 5276-7379
Gentera SAB de CV published this content on 04 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 October 2019 00:08:03 UTC