August 19, 2022 |
Fitch Ratings has downgraded Mexico's Unifin to RD from C after the non-bank lender defaulted on some of its debts, the rating agency said in a report on Thursday.
Unifin said earlier in the week that it had appointed chairman Rodrigo Lebois to lead its debt restructuring, but Fitch said the company has not yet announced a start to the process.
The non-bank lender said last week that it would stop making debt payments and try to negotiate a stand-still agreement with creditors. It has blamed a l
Rating agency says the Mexican non-bank lender has not started a formal restructuring process