February 12, 2021 |
Mexican financial institution Fimubac plans to bundle up to MXN1.2 billion ($60.1 million) worth of consumer loans tied to payrolls or pension accounts and sell them in the local bond market, according to a securities filing.
Fitch Ratings gave the proposed four-year notes a AA+(mex) rating with a stable outlook on Wednesday, citing a low default risk for the loans in the deal.
Fitch also pointed out that Fimubac has sufficient reserves to cover three months of interest payments and has a fund e
Mexican financial service firms plans to sell $60 mln worth of payroll loans in its third securitization deal