March 30 - Fitch Ratings has published a New Issue Report on TFOVIS 12U.
This Unidades de Inversion (UDI) 854 million transaction is the first
securitization of 2012 by Fondo de Vivienda del Instituto de Seguridad y
Servicios Sociales de los Trabajadores del Estado (FOVISSSTE). This transaction
is denominated in UDIs and is part of the MXP19 billion program authorized by
Comision Nacional Bancaria y de Valores (CNBV) in 2012.
The report provides a detailed and up-to-date perspective on key credit
characteristics of the TFOVIS 12U transaction, such as the quality of the
mortgage portfolio, credit enhancement, underwriting and servicing capabilities
of the originator, as well as the financial and legal structure of the