Moody’s Affirms Mexico’s Asigna

Moody’s has affirmed Mexican derivatives clearing house Asigna at A1 on the global local currency issuer scale with a stable outlook. The agency notes that credit quality is primarily tied to that of its owners, BBVA Bancomer, Banamex, Banco Santander, Scotiabank Inverlat, and JPMorgan. The ratings are limited by the nature of a still developing derivatives market in Mexico and the fact that Asigna remains a young organization with only 10 years of operation.