Metrofinanciera S.A.P.I. de C.V. SOFOM E.N.R. - S&P Credit Research

Metrofinanciera S.A.P.I. de C.V. SOFOM E.N.R.

Metrofinanciera S.A.P.I. de C.V. SOFOM E.N.R. - S&P Credit Research
Metrofinanciera S.A.P.I. de C.V. SOFOM E.N.R.
Published Nov 05, 2010
3060 words — Published Nov 05, 2010
Price US$ 500.00  |  Buy this Report Now

About This Report


Low refinancing and liquidity risks for the next two years Emerging from bankruptcy protection with positive tangible common equity Weak asset quality High exposure to land investments Negative adjusted capitalization Low earnings potential Weakened real estate industry in Mexico The ratings on Mexico-based mortgage and construction lender Metrofinanciera S.A.P.I. de C.V. SOFOM E.N.R., reflect its still weak business and financial profiles, reflecting high nonperforming assets (NPAs), a large land bank investment, and negative adjusted total equity (ATE) according to our own measurement. These factors are somewhat offset by a low debt burden and refinancing risk for the next few years. The company's asset quality is weak. Total NPAs represented a high 49.6% of total on-balance-sheet loans as of September 2010,

Brief Excerpt:

RESEARCH Metrofinanciera S.A.P.I. de C.V. SOFOM E.N.R. Publication date: 05-Nov-2010 Primary Credit Analyst: Arturo Sanchez, Mexico City (52) 55-5081-4468; Secondary Contact: Ingrid Ortiz Machain,...

Report Type:

Full Report

Thrifts & Mortgage Finance (40102010)
Global Issuers, Structured Finance
Latin America
Buy Now

S&P Credit Research—S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

About the Author

Cite this Report

S&P Credit Research. "Metrofinanciera S.A.P.I. de C.V. SOFOM E.N.R." Nov 05, 2010. Alacra Store. Apr 30, 2016. <>
S&P Credit Research. (). Metrofinanciera S.A.P.I. de C.V. SOFOM E.N.R. Nov 05, 2010. New York, NY: Alacra Store. Retrieved Apr 30, 2016 from <>
US$ 500.00
$  £  
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Residential Mortgage-Backed Securities from one place.