OREANDA-NEWS. S&P Global Rating affirmed its global scale 'BBB/A-2' issuer credit ratings (ICRs) on Banco Compartamos S. A. Institucion de Banca Multiple (Compartamos). At the same time, we affirmed our national scale 'mxAAA/mxA-1+' ratings on the bank. The outlook on all ratings remains stable. We also affirmed our 'mxAAA' issue-level rating on Compartamos' senior unsecured debt.

The ratings on Compartamos continue to reflect our assessment of its adequate business position due to its leading role and fragmented customer base in the microfinance sector in Mexico. The ratings also reflect the bank's very strong capital and earnings, given that our forecasted RAC ratio is about 16% for the next 24 months. Moreover, we consider Compartamos' risk position as moderate due to operations in a riskier segment as well as asset quality metrics that still lag behind those of the bank's domestic peers. The ratings also incorporate a below-average funding and adequate liquidity. The bank's stand-alone credit profile (SACP) remains at 'bbb'.