Fitch Downgrades Metrofinanciera IDR Ratings

Fitch Ratings has downgraded the foreign and local currency long-term issuer default ratings and long-term national-scale issuer rating of Metrofinanciera, a large home finance company in Mexico.The foreign and local currency IDRs have been downgraded from BB-minus to B-plus and the long-term national-scale issuer rating has been downgraded from A-minus(mex) to BBB(mex). In regard to other rated aspects of the company, Fitch said that while Metrofinanciera's individual rating was affirmed at "D" and the IDR downgrade "does not have negative rating implications for any of Metrofinanciera's securitizations, either local or foreign" it nevertheless "has negative implications for other ratings, including those in the national-scale." Fitch can be found online at http://www.fitchratings.com.