Factoraje Comercial America S.A. de C.V., the factoring subsidiary of one of Mexico’s leading insurance companies (Seguros Comercial America), today announced their fourth quarter and Full Year 2000 financial results.
Factoraje Comercial America’s revenue reached Ps. 77 million. Its portfolio increased by 19% while maintaining its past-due accounts reserved at 156.6%. This subsidiary is the first one in its sector to issue a medium-term unsecured note, rated MxAA+ by Standard Poor's.
Source: PR Newswire