|End-of-day quote - 09/25|
Gentera de CV : 09-08-2017 Gentera, announces Fitch Ratings Decision
|09/09/2017 | 08:39am|
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-currency long and short-term Issuer Default Ratings (IDRs). Its national scale long- and short-term ratings were also affirmed.
The main action taken by Fitch was the change in the Rating Outlook on the Long-Term IDRs, revised to Stable from Negative.
-Long-term foreign and local currency IDRs at 'BBB', Outlook revised to Stable from Negative;
-Short-term foreign and local currency IDRs at 'F2';
-Viability Rating at 'bbb';
-Support Rating at '5';
-Support Rating Floor at 'NF'.
-National-scale long-term rating at 'AA+(mex)', Outlook Stable;
-National-scale short-term rating at 'F1+(mex)';
-National-scale long-term rating for local issues of senior unsecured debt at 'AA+(mex)'. According to the press report issued earlier today, Fitch stated:
"…Compartamos' IDRs are driven by its stand-alone credit profile as reflected by its VR. The
affirmation of Compartamos' VR and IDRs reflects its leadership in group lending for working capital in Mexico, its gradually increasing franchise and its recognition as a role model in terms of group methodology and performance. The ratings also factor in the concentration of the bank's funding structure, which is mainly wholesale and highly dependent on market debt issuances…"About GENTERA
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 Rubén Ariza Noriega, Investor Relations Telephone: +52 (55) 5276-7379