Fitch Affirms Unifin’s Ratings and Removes Watch Negative

Mexico City, Mexico, June 11th, 2020 – UNIFIN Financiera, S.A.B. de C.V. (BMV: UNIFINA) (“UNIFIN” or the “Company”), informs that yesterday the ratings agency Fitch Ratings affirmed the global scale Long-Term Issuer Default Rating (IDR) at ‘BB’ and the National Scale rating at ‘A(mex)’ with a Negative Outlook. Likewise, the agency removed the Company from Rating Watch Negative (“RWN”). The rating for global senior unsecured debt was affirmed at ‘BB’ and the rating for perpetual bonds at ‘B+’.

According to the press release by Fitch Ratings, the removal of RWN reflects the expectations that immediate risks for a downgrade have been reduced. Meanwhile, the change to Negative Outlook is due to current pressures in the macroeconomic outlook and deterioration of the operating environment as a result of the impact of the COVID-19 pandemic.

The rating affirmation reflects the Company’s leadership in the independent leasing sector in Mexico and its proven expertise in the market. Likewise, the ratings factor in the Company’s long track record of solid earnings, contained asset quality, amongst others.

Miranda Newswire – Full Press Release: Download PDF

Investor Relations Contact Details

David Pernas – Director, IR & Corporate Finance
Tel: +52 (55) 4162-8270
E-mail: unifin_ri@unifin.com.mx
Web Page: www.unifin.com.mx/index-en.php

About the Company

UNIFIN is the leading independent Mexican leasing company, operating as a non-banking financial services company, specializing in three main business lines: operating leasing, factoring and auto and other lending. Through UNIFIN’s leasing business line, its core business line, the Company offers operating leases for all types of equipment and machinery, various types of transportation vehicles (including cars, trucks, helicopters, airplanes and other vessels) and other assets in a variety of industries. Through its factoring business line, UNIFIN provides liquidity and financing solutions to its customers by purchasing or discounting accounts receivable and by providing vendor financing. UNIFIN’s auto loans business line is focused on financing the acquisition of new and used vehicles.