Fitch drops Unifin to lowest level

Fitch drops Unifin to lowest level

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Fitch Ratings said Friday that it downgraded Mexico's Unifin to D from RD, dropping the non-bank lender to its lowest level after bankruptcy proceedings began earlier this month. "As of today, the company is not paying any of its creditors, its grace periods under its debt instruments have expired and is not originating loans or leases," Fitch said in a report. Unifin announced on November 8 that a court in Mexico City had approved its request to declare bankruptcy. It also said it expected the

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