Moody's assigns first-time ratings to SPP Seguros

Moody's assigns first-time ratings to SPP Seguros

Capital Markets Bonds Mexico

Moody's said it has assigned first-time ratings to Mexico's SPP Seguros, giving the insurance company a B2 on the global scale and a Ba1.mx on the local scale. The ratings primarily reflect the company's limited financial and operational history as well as uncertainty about future performance, Moody's said in a report. On the plus side, SPP Seguros' current capital levels exceed regulatory requirements and the company has a "solid gross underwriting leverage," Moody's said. But on the downside,

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