Credit Suisse says it has no big exposure to Mexico’s Credito Real

ZURICH (Reuters) – Credit score Suisse shouldn’t be uncovered to any massive losses amongst lenders to embattled Mexican agency Credito Actual, the Swiss financial institution stated on Saturday, contradicting earlier media studies.

Mexican newspaper El CEO citing paperwork stated Credit score Suisse is owed over $100 million by Credito Actual, which has begun chapter proceedings over $2.6 billion in money owed.

That’s the largest debt Credito Actual owes to a international financial institution, the newspaper reported.

“Credit score Suisse has no materials publicity to the corporate in query,” a spokesperson informed Reuters on Saturday.

“Any suggestion in any other case is unfounded.”

Credito Actual introduced it was starting chapter proceedings in July after defaulting earlier within the yr.

(Reporting by John Revill; modifying by Jason Neely)