Mexican Unifin’s debt restructuring is negative for other fincos – Moody’s By Reuters

(Reuters) – Mexican leasing firm Unifin’s debt restructuring is credit negative and could reflect tight refinancing conditions for Mexican financial institutions, Moody’s (NYSE:) rating agency said on Friday.

“Unifin’s restructuring and cessation of principal and interest payments will negatively affect Mexico’s smaller finance institutions, whose own liquidity profiles and funding sources are strained by heightened global volatility and investors wary of Mexico’s,” non-bank financial institution sector, Moody’s said in its report.