Moody’s Chops Homex’s Outlook to Stable

Moody’s has chopped Homex’s rating outlook to stable as banks and mortgage Sofoles and Sofomes curtail mortgage origination targets and tighten underwriting criteria, pressuring clients for middle and higher-income homes. The agency expects these market challenges to continue to negatively affect Homex’s operations, growth, margins and efficiency measures. Moody’s also affirmed its Ba3 rating for the company’s senior unsecured debt and global scale local currency.