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Fitch Publishes Presale Report on CEDEVIS 11U.

MONTERREY, Mexico -- Fitch Ratings has published a Presale Report on CEDEVIS 11U.

This MXP4.1 billion transaction is the first in 2011 by Instituto Del Fondo Nacional De La Vivienda Para Los Trabajadores (INFONAVIT). It is denominated in UDIs and it is part of the MXP10.57 billion program, extended to MXP17.57 billion, and authorized by Comision Nacional Bancaria y de Valores (CNBV). As of February 2011, INFONAVIT has issued a total of 27 CEDEVIS transactions in the local market, of which 22 are rated by Fitch.

The report provides a detailed and up-to-date perspective on key credit characteristics of this issuance, such as the quality of the mortgage portfolio, credit enhancement, underwriting and servicing capabilities of the originator, as well as the financial and legal structure of the transaction.

On Feb. 23, 2011, Fitch assigned an expected rating of 'AAA(mex)' to the senior notes and an 'AA(mex)' to the subordinated instrument. For more information please refer to Fitch's press release titled 'Fitch asigno calificacion AAA(mex) a la primera emision de CEDEVIS del 2011 por parte del INFONAVIT'.

The report and the press release are available at 'www.fitchratings.com'.

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria and Related Research: CEDEVIS 11U (Mexico RMBS)

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=609446

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE.
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Publication:Business Wire
Article Type:Report
Geographic Code:1MEX
Date:Mar 4, 2011
Words:374
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