Fitch Updates Mexican RMBS Rating Criteria

MONTERREY, Mexico--(BUSINESS WIRE)-- Fitch Ratings has updated its rating criteria report for Mexican residential mortgage backed securities (RMBS). The report replaces the version published on July 30, 2015. The update has no impact on any existing ratings.

The updated criteria report now includes the base case default and recovery rates assumptions for INFONAVIT and FOVISSSTE transactions; specific ranges of default stress multiples by rating category for these RMBS and assumptions on prepayment rates. The report also provides more detailed Market Value Decline levels by rating category for RMBS sponsored by banks and non-bank financial institutions. All other assumptions remain unchanged.

The updated criteria report is available at www.fitchratings.com.

Additional information is available at www.fitchratings.com.

RMBS Latin America Criteria Addendum -- Mexico

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=879614

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160408005514/en/

Fitch Ratings
Rene Ibarra
Senior Director
+52 81 8399 9130
Fitch Mexico S.A. de C.V.
Prolongacion Alfonso Reyes 2612
Col. Del Paseo Residencial Monterrey, Nuevo Leon
Mexico
or
Greg Kabance
Managing Director
+1-312-368-2052
or
Media Relations:
Elizabeth Fogerty, New York, +1 212-908-0526
Email: [email protected]

Source: Fitch Ratings

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