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Financial Institutions Jul 15 2026

FINDEP CP

Financiera Independencia, S.A.B. de C.V., SOFOM, E.N.R.
LocalShort Term
RatifiedHR2
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Latest Ratings

Jul 15 2026Financial Institutions

FINDEP CP

Financiera Independencia, S.A.B. de C.V., SOFOM, E.N.R.
Local ScaleShort Term
RatifiedHR2
Jul 15 2026Financial Institutions

FINDEP LP

Financiera Independencia, S.A.B. de C.V., SOFOM, E.N.R.
Local ScaleLong Term
RatifiedHR A +
Jul 14 2026Financial Institutions

UCAY CP

Unión de Crédito Agrícola del Yaqui S.A. de C.V.
Local ScaleShort Term
RatifiedHR3
Jul 14 2026Financial Institutions

UCAY LP

Unión de Crédito Agrícola del Yaqui S.A. de C.V.
Local ScaleLong Term
DowngradeHR BBB -
Jul 14 2026Financial Institutions

Hey Banco CP

Hey Banco, S.A., Institución de Banca Múltiple, Banregio Grupo Financiero
Local ScaleShort Term
InitialHR+1
Jul 14 2026Financial Institutions

Hey Banco LP

Hey Banco, S.A., Institución de Banca Múltiple, Banregio Grupo Financiero
Local ScaleLong Term
InitialHR AAA
Jul 14 2026Corporates

GPH LP

Grupo Palacio de Hierro, S.A.B. de C.V.
Local ScaleLong Term
RatifiedHR AAA
Jul 14 2026Corporates

GPH CP

Grupo Palacio de Hierro, S.A.B. de C.V.
Local ScaleShort Term
RatifiedHR+1
Jul 14 2026Corporates

GPH 19-2

Grupo Palacio de Hierro, S.A.B. de C.V.
Local ScaleLong Term
RatifiedHR AAA
Jul 14 2026Corporates

GPH 20

Grupo Palacio de Hierro, S.A.B. de C.V.
Local ScaleLong Term
RatifiedHR AAA
Jul 13 2026Corporates

CYDSASA 23

CYDSA, S.A.B. de C.V.
Local ScaleLong Term
WithdrawnAMORTIZED
Jul 13 2026Government Securities

Estado Libre y Soberano de Zacatecas

32 Banobras P$2,800m
Local ScaleLong Term
RatifiedHR AAA (E)
Jul 13 2026Government Securities

Estado Libre y Soberano de Zacatecas

32 Banorte P$4,073.5m
Local ScaleLong Term
RatifiedHR AAA (E)
Jul 13 2026Government Securities

Estado Libre y Soberano de Zacatecas

32 Banobras P$468.1m
Local ScaleLong Term
RatifiedHR A + (E)
Jul 10 2026Corporates

LALA 20

Grupo Lala, S.A.B. de C.V.
Local ScaleLong Term
UpgradeHR AAA
Jul 10 2026Corporates

LALA 19

Grupo Lala, S.A.B. de C.V.
Local ScaleLong Term
UpgradeHR AAA
Jul 10 2026Corporates

LALA CP

Grupo Lala, S.A.B. de C.V.
Local ScaleShort Term
UpgradeHR+1
Jul 10 2026Corporates

LALA 18

Grupo Lala, S.A.B. de C.V.
Local ScaleLong Term
UpgradeHR AAA
Jul 10 2026Corporates

LALA LP

Grupo Lala, S.A.B. de C.V.
Local ScaleLong Term
UpgradeHR AAA
Jul 10 2026Corporates

NEM US$350m Notas Senior Local

Nueva Elektra del Milenio, S.A. de C.V.
Local ScaleLong Term
DowngradeHR AA (E)
Jul 10 2026Corporates

NEM US$350m Notas Senior Global

Nueva Elektra del Milenio, S.A. de C.V.
Global ScaleLong Term
DowngradeHR BBB - (G)(E)
Jul 10 2026Corporates

NEM LP Global

Nueva Elektra del Milenio, S.A. de C.V.
Global ScaleLong Term
DowngradeHR BB + (G)
Jul 10 2026Corporates

NEM CP

Nueva Elektra del Milenio, S.A. de C.V.
Local ScaleShort Term
RatifiedHR1
Jul 10 2026Corporates

NEM LP

Nueva Elektra del Milenio, S.A. de C.V.
Local ScaleLong Term
DowngradeHR AA -
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Analysis

Economics Sectors Comments
Spanish Content
Economics Jul 15 2026

Empleo formal al primer semestre

Evolución heterogénea en el empleo formal refleja la debilidad de la actividad económica...
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Press Release Jul 06 2026

HR Ratings provides an update regarding the NAIC Cybersecurity Incident and the actions taken

On June 25th, 2026, the NAIC informed through its website that some of the information was published online. While we have not had direct and clear confirmation on the data nor have we seen it readily available online...
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Economics Jun 30 2026

Escenarios Macroeconómicos 2T26

HR Ratings presenta la actualización de sus escenarios macroeconómicos para el segundo trimestre de 2026...
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Press Release Jun 25 2026

HR Ratings Update Regarding NAIC Cybersecurity Incident

On June 17th, 2026, the National Association of Insurance Commissioners (NAIC) announced that it had identified unauthorized access to certain NAIC systems....
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Economics Jun 19 2026

Oferta y Demanda Agregada al 1T26

La debilidad de la demanda interna lleva a la economía mexicana a terreno negativo en el 1T26...
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Spanish Content
Sectors Jun 02 2026

Balanza de Pagos del 1T26

La fortaleza externa de México y la persistente entrada de divisas han contribuido a mantener la estabilidad cambiaria, aun en un entorno de elevada volatilidad e incertidumbre...
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Spanish Content
Sectors May 22 2026

Resultados Financieros de Pemex

El desempeño financiero y operativo de Pemex y su relación con el Gobierno Federal es un tema que genera gran interés y discusión pública, aunque muchas veces es complejo de analizar debido a su estructura financiera y operativa. El propósito de este reporte es presentar datos que consideramos relevantes para evaluar tanto su desempeño, como su relación con el Gobierno Federal....
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Sectors May 20 2026

Evolución del mercado de Bonos Etiquetados

HR Ratings comenta sobre la evolución del mercado de Bonos Etiquetados en Mexico al cierre de 2025....
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