|[October 10, 2013]
GENTERA (formerly Grupo Compartamos), Informs that Banco Compartamos Obtained Investment Grade by S&P
MEXICO CITY --(Business Wire)--
GENTERA (formerly "Grupo Compartamos") (BMV: COMPARC*) informs
that Banco Compartamos S.A. I.B.M., GENTERA's main subsidiary,
today obtained Investment Grade on its Global Scale Counterparty
Credit Rating by Standard and Poor's.
Standard and Poor's took the following actions:
Assigned a global scale 'BBB/A-2' rating to Banco Compartamos, with a
Global scale 'BBB' long-term and 'A-2' short-term.
Affirmed the national scale 'mxAAA/mxA-1+' rating for Banco
Affirmed the national scale 'mxAAA' issue-level rating on Banco
Compartamos' senior unsecured debt.
Standard and Poor's issued a press release today, which stated the
"…The ratings on Banco Compartamos reflect our view of its 'adequate'
business position, 'very strong' capital and earnings, 'moderate' risk
position, and 'below average' funding and 'adequate' liquidity, as our
criteria define these terms. The bank's stand-alone crdit profile
(SACP) is at 'bbb'…".
They also mentioned that "…The stable outlook reflects our
expectation that the bank will maintain its leadership in the Mexican
microfinance sector as well as its very strong capitalization during the
next two years…"
Gentera is a registered brand of Compartamos S.A.B de C.V.
(Compartamos). Compartamos is a holding company whose primary objective
is to promote, organize and manage companies, domestic and
international, that are subject to its investment policies. Compartamos
was established in 2010 and headquartered in Mexico, and its shares
began trading on the Mexican Stock Exchange on December 24, 2010, under
the ticker symbol "COMPARC*".
Note on Forward-Looking Statements
This press release may contain forward-looking statements. These
statements are statements that are not historical facts, and are based
on management's current view and estimates of future economic
circumstances, industry conditions, Company performance and financial
results. The words "anticipates", "believes", "estimates", "expects",
"plans" and similar expressions, as they relate to the Company, are
intended to identify forward-looking statements. Statements regarding
the declaration or payment of dividends, the implementation of principal
operating and financing strategies and capital expenditure plans, the
direction of future operations and the factors or trends affecting
financial condition, liquidity or results of operations are examples of
forward-looking statements. Such statements reflect the current views of
management and are subject to a number of risks and uncertainties. There
is no guarantee that the expected events, trends or results will
actually occur. The statements are based on many assumptions and
factors, including general economic and market conditions, industry
conditions, and operating factors. Any changes in such assumptions or
factors could cause actual results to differ materially from current
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