Microfinance Monitor, June 10, 2010 — Mexican microfinance institution Banco Compartamos has announced that Fitch Ratings affirmed Compartamos’ national long and short-term credit ratings, ‘AA-’(mex) and ‘F1+’(mex), respectively, with a ‘Stable’ outlook. Additionally, the ratings of the local bank bonds (COMPART 09) were affirmed at ‘AA-’(mex) for Ps. 1.5 billion.
“The long-term ratings perspective for Compartamos is ‘Stable’ and reflects the Bank’s ability to maintain strong financial performance indicators, a solid ability to control future deterioration of asset quality and a robust equity position.”
The Fitch said, “The affirmation of the ratings reflects (Compartamos’) robust capitalization, which stems from its strong ability to absorb losses; the solid financial performance that it has demonstrated historically and its ability to sustain growth; as well as its solid franchise in the microfinance segment”.
The long-term ratings perspective for Compartamos is ‘Stable’ and reflects the Bank’s ability to maintain strong financial performance indicators, said the rating agency.
Compartamos Banco, S.A., a Mexican bank specialized in microfinance, is the largest lender to microbusiness owners in Latin America. Established in 1990 and headquartered in Mexico City, Compartamos provides small loans to low-income Mexican individuals and business owners, such as craft manufacturers, food vendors and other small businesses.
