Nafin Receives AAA Rating from Fitch and Moody’s
Fitch Ratings and Moody’s, credit risk rating agencies, assigned ‘AAA(mex)’ and ‘AAA.mx’ respectively to the issuance of National Financiera, a development bank, bursátile certificates with the stock code NAFR25.
NAFR25 will be issued in Mexican pesos with a variable coupon payable every 28 days, maturing on June 30, 2028.
The issuance aims to raise an objective amount of 10,000 million or 15,000 million pesos in case of oversubscription.
The net funds derived from the issuance will be used to refinance liabilities.
Amazon, Invex, and Mastercard Launch Amazon Access Debit Card
Amazon.com, the US-based e-commerce giant, along with Invex Banco and Mastercard, announced the launch of Amazon Access, a debit card enabling Amazon customers to manage their money through the shopping app.
With this service, Amazon customers can open an Amazon Access account issued by Invex Banco to pay, transfer, and receive money.
Moreover, customers can make purchases outside of Amazon using their digital card or by requesting their Invex-Mastercard physical card, at no additional cost.
IFT Imposes Fine on Telcel
The fine imposed by the Federal Telecommunications Institute (IFT) on Telcel, Mexico’s largest mobile telephony operator, represents 0.5% of América Móvil’s operating cash flow over the past 12 months, according to an analysis by Vector Casa de Bolsa.
The fine’s size, along with the possibility of the company appealing the sanction, could have a limited impact on América Móvil’s stock price, the brokerage signaled in a report.
Telcel received a fine of 1,782.6 million pesos for providing incentives to the Oxxo convenience store chain and other retailers in exchange for not commercializing rival cellular operators’ SIM cards.
Waymo Seeks NY Robotaxi Approval
Waymo, the autonomous driving unit of Alphabet, is seeking approval from the New York City Department of Transportation to test its robotaxis in Manhattan.
The vehicles will be accompanied by a human specialist overseeing the wheel, as reported.
Regardless of whether Waymo receives authorization from the city’s transportation department, the company plans to have human drivers manually operate their vehicles in New York to collect data.
Clara and PASE Partner for Toll Management
Mexican startup Clara has reached an agreement with PASE, a toll and mobility company, to offer a solution for controlling toll expenses and optimizing fleet operations.
The collaboration between the two companies will be carried out under a postpaid model linked to a corporate card, with the goal of simplifying financial and operational management of their units on urban, private, state, and federal highways.
Clients will be able to set up direct debit payments for PASE to Clara’s corporate card.
Key Questions and Answers
- What is the significance of Nafin receiving a AAA rating? This rating indicates strong credit quality and low risk for investors, making Nafin’s issuance more attractive.
- What is Amazon Access and how does it benefit users? Amazon Access is a debit card that allows customers to manage their finances within the Amazon shopping app. Benefits include managing payments, transfers, and receiving money, as well as making purchases both within and outside of Amazon using a digital or physical card.
- Why was Telcel fined and what is the impact on América Móvil? Telcel was fined for offering incentives to retailers in exchange for not promoting competitors’ SIM cards. The fine represents a small portion (0.5%) of América Móvil’s operating cash flow, suggesting a limited impact on its stock price.
- What is Waymo’s goal in New York? Waymo aims to obtain approval from the New York City Department of Transportation to test its autonomous robotaxis in Manhattan, with human specialists overseeing the vehicles during testing.
- How does the partnership between Clara and PASE help clients? This collaboration offers a streamlined solution for managing toll expenses and optimizing fleet operations on various highway types through a postpaid model linked to a corporate card.
