Only three months after Mexican GSE Fovissste issued its first cross-border RMBS, the lender's deals are facing ratings trouble.

Moody’s de Mexico said it was reviewing “reporting inconsistencies” in the originator’s RMBS, for which Fovissste also acts as servicer. As a result, the agency has put these deals on review for downgrade. The program’s ratings now stand at ‘Aaa.mx(sf)’ on the national scale and ‘Baa1(sf)’ on the global, local currency scale.

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