by Amruth Sundarkumar | Aug 19, 2022 | Corporates, Credit Ratings
Unifin Financiera was downgraded to RD from C by Fitch due to its uncured payment defaults on some of its credit facilities. As Unifin has not filed for bankruptcy or entered liquidation or any other formal winding-up process, the RD rating was considered appropriate...
by Amruth Sundarkumar | Aug 10, 2022 | Corporates, Credit Ratings, High Yield Bonds
Mexico’s largest non-bank lender, Unifin has suspended all coupon and principal payments on its debt as it seeks to “negotiate definitive agreements with (Unifin’s) shareholders in relation to a strategic restructuring.” Reuters noted that earlier this...
by Amruth Sundarkumar | Jun 2, 2022 | Financial Institution Bonds
Dollar bonds of Unifin Financiera jumped over 20% yesterday after news that it received a $500mn equivalent credit line in pesos from Credit Suisse. Also, the Mexican company is said to be finalizing an agreement with bondholders to extend the maturity of its 7% bonds...
by Amruth Sundarkumar | May 25, 2022 | Financial Institution Bonds
Dollar bonds of Unifin Financiera fell 5-8 points on reports that the company is yet to follow up on plans to boost its liquidity. Investment bank Stifel’s analyst, Alexis Panton noted that “the clock is ticking” for Unifin to deliver good news, adding that the...
by Amruth Sundarkumar | Apr 7, 2022 | Financial News
Unifin Financiera S.A.B. de C.V. (Unifin) was downgraded to BB- from BB by Fitch on a downward revision of profitability assessment/business profile and low core metrics. Fitch also revised down Unifin’s funding, liquidity and coverage assessment metrics....
