Fitch Publishes Report on Significant Events for Mexican Bond Investment Funds

miércoles 26 de noviembre de 2014 13:13 GYT
 

(The following statement was released by the rating agency) MONTERREY/NEW YORK, November 26 (Fitch) Fitch Ratings has released a special report titled 'Significant Events of the Bond Funds Rated by Fitch' covering events from August 2013 to September 2014. The report includes new bond funds just launched in Mexico, as well as those that modified their investment strategy and/or portfolio composition and saw a change in their rating. The report also discusses major changes in rating criteria made by Fitch during 2014, with an emphasis on those in Mexico, based on the updated 'Rating Criteria of Bond Funds in Latin America' (dated July 29, 2014 and available at 'www.fitchratings.mx'). The changes include eliminating the secondary market indicator in the market risk (MR) rating of the funds and the distribution of the weight of this factor among the modified duration and adjusted modified duration variables, which represent the largest percentage of the rating (70%). Nonetheless, these modifications did not affect the ratings of the bond funds rated by the agency. The report includes a list of rating actions, broken down into ratings assignations, upgrades or downgrades, affirmations, and withdrawals made during the specified period. The full report 'Significant Events of the Bond Funds Rated by Fitch (August 2013 - September 2014)' is available at 'www.fitchratings.com' and 'www.fitchratings.mx'. Contact: Monica Gonzalez Analyst Fitch Mexico S.A. de C.V. Prol. Alfonso Reyes 2612, Monterrey, Nuevo Leon, Mexico Bertha Cantu Director Arturo Rueda Senior Director Alfredo Gomez Senior Director Media Relations: Elizabeth Fogerty, New York, Tel: +1 (212) 908 0526, Email: elizabeth.fogerty@fitchratings.com. Further information is available at: www.fitchratings.com or www.fitchratings.mx. Related research: - Significant Events of the Bond Funds Rated by Fitch (August 2013 - September 2014) (October 30, 2014). Applicable Criteria and Related Research: Significant Events of the Bond Funds Rated by Fitch (August 2013 – September 2014) here ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: here. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.