US EditionLow Fitch Notes From Cibank, Exchange and Vector to 'Scrap'
15 Articles
15 Articles
Mexico City.- Fitch Ratings lowered the long-term national ratings of Intercam Banco, CIBanco and Vector Casa de Bolsa of step B, which implied a poor credit quality, to CCC, a level that already falls within the degree of speculation with high risk, due to the observation regarding weaknesses in the prevention of money laundering. For the short term, the qualifier reduced the notes of Intercam, CIBanco and Vector from B to C, which means an imm…
Jessika Becerra Mexico City. Fitch Ratings will no longer qualify the Mexican banks that the U.S. Treasury Department pointed out due to the alleged weakness of the controls to prevent money laundering in operations, according to a statement from the firm. As a final action, Fitch today lowered his ratings to a level that converts to junk bonds the papers that CI Banco, Intercam-bank and financial group- and Vector Casa de Bolsa issue on the sto…
CDMX.- The agency Fitch placed in speculative degree and withdrew the ratings of CIBanco, Intercam Banco and Vector Casa de Bolsa, before the U.S. Treasury Department's allegations of alleged money laundering. “The drop in ratings reflects the significant weakening expected by Fitch of the financial and business profiles of financial institutions, linked to the reputational damage derived from the US Treasury Department's pointing to alleged wea…
• All three entities remain under negative and untracked observation• Fitch warns high risk of default and financial deterioration• Money laundering claims affect reputation and liquidity Fitch Ratings further lowered the ratings of CIBanco, Intercam and Vector Casa de Bolsa, placing them on a speculative level with negative observation. The agency also announced that it will stop evaluating these institutions for “commercial reasons.” The decis…
The rating agency Fitch Ratings lowered on Tuesday the credit ratings of Intercam Banco, Vector Casa de Bolsa and CIBanco to ‘CCC(mex)’, a level considered high risk of non-compliance, commonly classified in the financial slang as “waste grade” or highly speculative. The measure also affected its non-bank subsidiaries, whose notes were withdrawn and placed in negative observation.
The Fitch Ratings qualifier gave a brutal blow to CIBanco, Intercam Banco and Vector Casa de Bolsa by lowering national long- and short-term risk ratings.According to Fitch Ratings, these financial institutions remained in “negative observation.”CIBanco, Intercam Banco and Vector Casa de Bolsa fall; Fitch Ratings withdraws ratingsOn July 15 Fitch Ratings shared that it withdrew the ratings of the long- and short-term financial institutions of al…
Coverage Details
Bias Distribution
- 50% of the sources are Center, 50% of the sources lean Right
To view factuality data please Upgrade to Premium
