S&P Affirms Unifin’s Ratings and Removes Watch Negative

Mexico City, Mexico, June 24, 2020 – UNIFIN Financiera, S.A.B. de C.V. (BMV: UNIFIN) (“UNIFIN” or “the Company”), announces that the credit rating agency Standard & Poor’s affirmed the Company’s long-term credit rating on the global scale of ‘BB-’ and on the national scale of ‘mxA-/mxA-2’ with a negative outlook. Similarly, the rating agency removed UNIFIN from Rating Watch Negative (“RWN”).

The affirmation of the ratings is supported by the Company’s leading position and market share in the leasing sector, the quality of its assets, the diversification of its funding sources and its liquidity. 

According to the rating agency, the Company’s leverage, equity and income reflects an adequate capital structure. However, the negative outlook is maintained due to the possibility that the Company may be affected by difficult operating conditions given the ongoing COVID-19 pandemic and Mexico´s economic and structural challenges.

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.