S&P drops Compartamos Banco from investment grade

S&P drops Compartamos Banco from investment grade

Coronavirus Loans Capital Markets Mexico

S&P Global Ratings dropped Mexico's Compartamos Banco from investment grade after it downgraded the microfinance lender's long-term ratings by one notch to BB+ with a negative outlook. "Compartamos' loan portfolio has continued deteriorating due to the effects of the COVID-19 pandemic," S&P said in a report on Monday. "Currently, we expect this deterioration to last at least until the end of 2020." In addition, "extensive" reserve requirements and lower interest earnings will likely eat

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