The rating outlook for TIP de México S.A.P.I. de C.V. (TAPER) changed to stable at Fitch on May 29, 2023. TIP is a manager of positive financial assets. Fitch ratified the rating to AAFC2-

The positive outlook of TIP de Mexico, S.A.P.I. de C.V. is based on the stability observed in the management of the company, the adequate financial situation and a more stable performance since the last review, with default levels tending to decline. TIP's corporate governance has remained stable since the last review.

According to Fitch, the Board of Directors has increased the number of independent members in line with good business practices in the market, which is positive. The agency believes that profitability benefits from wide interest rate margins and low provisions for losses. Similarly, TIP's funding structure has limited flexibility due to the high share of guaranteed funding lines, however, access to liquidity sources is maintained