GENTERA, S.A.B. DE C

GENTERA *
End-of-day quote. End-of-day quote  - 09/30
6.31MXN -0.79%

Gentera de CV : , informs that Banco Compartamos was affirmed in its Investment Grade by S&P

09/15/2016 | 10:48am
GENTERA, informs that Banco Compartamos was affirmed in its Investment Grade by S&P Mexico City, August 17, 2016 - GENTERA S.A.B. de C.V. (BMV: GENTERA*) informs that Banco Compartamos S.A. I.B.M., GENTERA's main subsidiary, was affirmed in its Investment Grade on its Global Scale by Standard and Poor's.

Standard and Poor's took the following actions:

  • Affirmed the global scale 'BBB/A-2' rating to Banco Compartamos, with a 'Stable' outlook.

    o Global scale 'BBB' long-term and 'A-2' short-term.

  • Affirmed the national scale 'mxAAA/mxA-1+' rating for Banco Compartamos.

  • Affirmed the national scale 'mxAAA' issue-level rating on Banco Compartamos' senior unsecured debt.

Standard and Poor's issued a press release today, which stated the following:

"… The ratings on Compartamos continue to reflect our assessment of its adequate business position due to its leading role and fragmented customer base in the microfinance sector in México. …".

"… The ratings also reflect the bank's very strong capital and earnings, given that our forecasted RAC ratio is about 16% for the next 24 months…".

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Company Description

GENTERA, 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 Beatriz Sánchez Covarrubias, Investor Relations Rubén Ariza Noriega, Investor Relations Telephone: +52 (55) 5276-7379

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