MEXICO CITY, May 26, 2016 /PRNewswire/ -- Credito Real, S.A.B. de C.V., SOFOM, E.R. ("Credito Real"), informs that HR Ratings disclosed yesterday its credit rating review. HR Ratings increased the default rating to an investment grade from BB+ to BBB- of the 425MM USD Senior Notes due 2019. The rating agency also increased the default rating from A+ to AA- of the local long term notes with ticker symbol Creal 14, Creal 15 and Creal 16. Additionally HR Ratings increased the default rating from HR2 to HR1 of the Notes Revolving Program (Cebures). Finally HR Ratings changed the Special Review of Credito Real to a Stable Outlook.
According to the HR Ratings release, the increase of one notch in all the issuances of Credito Real reflects the recurring and cash flow generation, the income diversification of products and regions, mainly due to auto loans, SME's and Instacredit. The ratings are limited by the impairment of the efficiency ratio and the performance of the foreign businesses lines.
More information about the HR Ratings release can be found at www.hrratings.com
About Credito Real:
Credito Real is a leading financial institution in Mexico, focusing on consumer lending with a diversified business platform in five main lines of business: payroll credits, durable goods loans, small business loans, group loans and used car loans. Credito Real offers its products mainly to the low and middle segments of the population that have historically been underserved by other financial institutions.
Credito Real's Investor Relations:
Investors Relations Agency
Alejandro Ramirez Arcia: email@example.com
Phone: +52 (55) 5980 9923
Web page: www.creal.mx
Credito Real shares are listed on the Mexican Stock Exchange under the ticker symbol and Series "CREAL*". (Bloomberg identification number is CREAL* MM) lines.
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SOURCE Credito Real, S.A.B. de C.V. SOFOM, E.R.