The company that has suffered the most, in the last 12 months, is Crédito Real. In addition to accumulating a fall of 45.74%, it threads three months of setbacks where May stands out, with a monthly historical low of 29.07% and that leads it to trade at a record low of 6.49 pesos.
“Crédito Real has had a significant deterioration in its loan portfolio, having to restructure its reserves; it also had a (debt) rating downgrade recently. The price adjustment responds to a perception of risk about the issuer, ”says Jonathan Zuloaga, Macroeconomic and Markets Advisor at Columbus in Mexico.
On May 13, S&P Global Ratings lowered the credit rating of Crédito Real’s papers to ‘BB-‘ from ‘BB’, on a global scale, going further into speculative or junk grade. The cut responded to the deterioration of the commercial loan portfolio in an environment marked by the persistent effects of a pandemic that has limited the final results, according to the rating agency.
The pressure on Crédito Real’s results is not new. In the first quarter of the year, although the company’s financial income increased 5.1%, compared to the same period of the previous year, the falls were double-digit in items such as: financial margin, operating income and net income, where in this The last drop was 70.7%.
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