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.

3063 words — Published Nov 05, 2010
Price $400.00  |  Buy this Report Now

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Abstract:

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 Ratings Definitions PDF 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; arturo_sanchez@standardandpoors.com Secondary Contact:...

  
Report Type:

Full Report

Ticker
1318Z@MM
Issuer
Metrofinanciera S.A.P.I. de C.V. SOFOM E.N.R.
GICS
Thrifts & Mortgage Finance (40102010)
Sector
Global Issuers, Structured Finance
Country
Region
Latin America
Format:
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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.

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Cite this Report

  
MLA:
S&P Credit Research. "Metrofinanciera S.A.P.I. de C.V. SOFOM E.N.R." Nov 05, 2010. Alacra Store. Sep 21, 2014. <http://www.alacrastore.com/s-and-p-credit-research/Metrofinanciera-S-A-P-I-de-C-V-SOFOM-E-N-R-830168>
  
APA:
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 Sep 21, 2014 from <http://www.alacrastore.com/s-and-p-credit-research/Metrofinanciera-S-A-P-I-de-C-V-SOFOM-E-N-R-830168>
  
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