FiNETIK – Asia and Latin America – Market News Network

Asia and Latin America News Network focusing on Financial Markets, Energy, Environment, Commodity and Risk, Trading and Data Management

IXE Grupo Financiero high capitalization ratio earns S&P rating raise

S&P raised its credit rating outlook to stable from negative for IXE Grupo Financiero and its subsidiaries.

 

IXE Grupo Financeiro has shown a strong financial performance and is one of the soundest financial institutions in Mexico.

 

In this time of turmoil and when others are receiving downgrades (see list below), IXE has emerged as a bright star. IXE Banco’s capitalization ratio as of year end 2008 stands at 18.5%, the second highest in the Mexican Financial Sector just behind Inbursa. Furthermore, IXE Banco continues to have outstanding liquidity, as it has significantly more deposits than loan portfolio. 

 

Bank                                       S&P Rating

IXE                                        A, Raised to Stable from Negative

Banamex:                               BBB+, lowered to Negative from Stable

Banorte:                                 BBB, Stable

Santander:                              Lowered to Negative Outlook

Merrill Lynch/BofA:               A, Lowered from A+

MBIA:                                   BBB+, lowered from AA

HSBC Mexico:                      Lowered to Negative Outlook

 

 

Source: IXE Casa de Bolsa, 06.03.2009

Advertisements

Filed under: Banking, Latin America, Mexico, News, Risk Management, , , , , , , , , , ,