Unifin suffers downgrades after halting debt payments

Unifin suffers downgrades after halting debt payments

Credit Ratings S&P Global Fitch Ratings Downgrade Revision Bonds Debt Mexico Capital Markets

Mexican non-bank lender Unifin was downgraded by S&P Global Ratings, Fitch Ratings and PCR Verum after it announced this week that it will miss upcoming debt payments due to limited access to financing. Fitch cut Unifin's ratings to C from BB-, saying that "a default process has begun." S&P, meanwhile, dropped Unifin to a D rating from B+ and PCR Verum downgraded the company to D from AA-. Unifin has already warned the market that it will not make its next scheduled bond payment on Frida

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