The rating agency has proceeded to Raise the viability rating, moving from bbb- to bbb, the senior preferred debt rating from BBB- to BBB, and the subordinated debt rating from BB to BB+. The short-term issuer rating has also been confirmed at F3. This advance consolidates Cajamar's financial position in the market.
Fitch Ratings' recent decision to upgrade Grupo Cooperativo Cajamar's rating represents an important milestone for the financial institution. This positive adjustment is the result of an exhaustive analysis that highlights the Favorable evolution of Cajamar in several key aspects.
One of the determining factors for this improvement is Fitch's positive assessment of Cajamar's "broad, stable, and granular deposit base." The agency recognizes that this strength directly benefits from the entity's status as a credit cooperative, which allows it to maintain a close and solid relationship with its clients. Fitch also highlights theimproving your financial profile", which has contributed to a "positive advance in access to the capital markets."
This credit rating upgrade follows a series of recent positive assessments. In July and November, both Fitch Ratings and S&P awarded Cajamar a BBB- (investment grade) rating, which already represented a recognition of the company's financial strength of the entityThe progression to 'BBB' further consolidates this position.
The upgrade by Fitch Ratings has significant implications for Grupo Cooperativo Cajamar. A higher rating facilitates access to financing under more favorable conditions, which can boost the growth and expansion of the entity. It also strengthens the confidence of investors and clients in the stability and financial strength of Cajamar.
Fitch's decision also underscores the Resilience of the credit cooperative model, which has demonstrated its ability to adapt to the challenges of the economic environment. Cajamar's structure, with its focus on proximity and support for local communities, has been a key factor in its success.
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