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Financial Institutions Nov 14 2025

CrediCapital LP

Solución Asea
LocalLong Term
RatifiedHR A -
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Latest Ratings

Nov 14 2025Financial Institutions

CrediCapital LP

Solución Asea
Local ScaleLong Term
RatifiedHR A -
Nov 14 2025Financial Institutions

CrediCapital CP

Solución Asea
Local ScaleShort Term
RatifiedHR2
Nov 14 2025Financial Institutions

BSMXCB 25-2

Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México
Local ScaleLong Term
RatifiedHR AAA (E)
Nov 14 2025Financial Institutions

BSMXCB 25

Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México
Local ScaleLong Term
RatifiedHR AAA (E)
Nov 14 2025Financial Institutions

BACMEXT 25-3X

BANCOMEXT
Local ScaleLong Term
InitialHR AAA
Nov 14 2025Financial Institutions

TIPMXCB 23-2

TIP de México
Local ScaleLong Term
WithdrawnAMORTIZED
Nov 14 2025Financial Institutions

TIPMXCB 23

TIP de México
Local ScaleLong Term
WithdrawnAMORTIZED
Nov 13 2025Corporates

ZKCCB 17

Fondo ZKC
Local ScaleLong Term
RatifiedHR AAA (E)
Nov 13 2025Financial Institutions

CAPEMCB 25X

Grupo Olinx, S.A.P.I. de C.V., SOFOM, E.N.R.
Local ScaleLong Term
RatifiedHR AAA (E)
Nov 12 2025Corporates

VOLARCB21L

Concesionaria Vuela Compañía de Aviación, S.A.P.I. de C.V.
Local ScaleLong Term
RatifiedHR AA + (E)
Nov 12 2025Corporates

VOLARCB 23

Concesionaria Vuela Compañía de Aviación, S.A.P.I. de C.V.
Local ScaleLong Term
RatifiedHR AA + (E)
Nov 12 2025Government Securities

Municipio de Nextlalpan

15059
Local ScaleLong Term
UpgradeHR A +
Nov 12 2025Government Securities

Municipio de Chapa de Mota

15026
Local ScaleLong Term
WithdrawnWITHDRAWN
Nov 12 2025Government Securities

Instituto de Control Vehicular del Estado de Nuevo León ("ICV")

ICVCB 23U
Local ScaleLong Term
RatifiedHR AAA (E)
Nov 12 2025Government Securities

Instituto de Control Vehicular del Estado de Nuevo León ("ICV")

19 ICV AFIRME P$399.4M
Local ScaleLong Term
RatifiedHR AAA (E)
Nov 12 2025Government Securities

Instituto de Control Vehicular del Estado de Nuevo León ("ICV")

19 ICV BANORTE P$1,750.0M
Local ScaleLong Term
RatifiedHR AAA (E)
Nov 12 2025Corporates

ICV LP

Instituto de Control Vehicular del Estado de Nuevo León ("ICV")
Local ScaleLong Term
RatifiedHR A +
Nov 12 2025Corporates

ICV CP

Instituto de Control Vehicular del Estado de Nuevo León ("ICV")
Local ScaleShort Term
RatifiedHR2
Nov 12 2025Government Securities

Municipio de Chapa de Mota

15026 Banobras P$20.0m
Local ScaleLong Term
WithdrawnWITHDRAWN
Nov 12 2025Government Securities

Gobierno del Estado de Sonora

26 Banorte P$500.0m
Local ScaleLong Term
InitialHR AAA (E)
Nov 12 2025Government Securities

Gobierno del Estado de Sonora

26 BBVA P$1,000.0m
Local ScaleLong Term
InitialHR AAA (E)
Nov 11 2025Financial Institutions

ACUNSA CP Global

Asistencia Clínica Universitaria de Navarra, S.A. de Seguros y Reaseguros
Global ScaleShort Term
RatifiedHR4 (G)
Nov 11 2025Financial Institutions

ACUNSA LP Global

Asistencia Clínica Universitaria de Navarra, S.A. de Seguros y Reaseguros
Global ScaleLong Term
UpgradeHR BB + (G)
Nov 11 2025Financial Institutions

ACUNSA LP

Asistencia Clínica Universitaria de Navarra, S.A. de Seguros y Reaseguros
Local ScaleLong Term
UpgradeHR AA -
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Analysis

Economics Sectors Comments
Spanish Content
Sectors Nov 11 2025

Empleo formal en Octubre

Empleo formal muestra recuperación al inicio del 4T25, aunque insuficiente para cambiar la tendencia acumulada en el año...
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Spanish Content
Sectors Nov 11 2025

Inflación al mes de octubre

Inflación de octubre da un respiro y Banco de México reduce la tasa en 25 puntos base para dejarla en 7.25%. Anticipamos otro recorte de igual magnitud antes de que termine el año...
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Spanish Content
Sectors Nov 10 2025

Finanzas Públicas al 3T25

Las recientes estimaciones de Hacienda plantean un cierre de año acotado para continuar reduciendo el déficit fiscal en 2025...
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Comments Nov 06 2025

Comments to the Public Business Development Companies Methodology

HR Ratings asks market participants to comment on its proposal for the Business Development Companies Methodology...
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Spanish Content
Sectors Nov 04 2025

Pemex al tercer trimestre de 2025

Pemex registra un flujo de efectivo positivo debido a las transferencias realizadas por el Gobierno Federal...
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Spanish Content
Sectors Oct 31 2025

Estimación Oportuna del PIB 3T25

Debilidad en la construcción frena la actividad económica en el tercer trimestre de 2025...
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Sectors Oct 30 2025

The Federal Reserve delivered another 25bp cut to the interest rate

In its latest monetary policy decision, the US Federal Reserve reduced the benchmark interest rate by 25 basis points to a range of 3.75% - 4.00%, marking the second consecutive cut and signaling a cautious shift toward monetary easing. The decision was broadly in line with analysts expectations, reflecting the Fed’s growing concern over the cooling pace of the labor market amid persistent uncertainty surrounding the government shutdown and delayed macroeconomic data releases. Consequently, the implications for future monetary decisions is far from certain....
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Spanish Content
Sectors Oct 30 2025

Balanza comercial al tercer trimestre de 2025

Comercio exterior registra una dinámica positiva en el 3T25 luego de la incertidumbre en la primera mitad del año...
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