will finance the construction of the project, along with a USD 17 million dollars line of credit for Value Added Tax (VAT).
Fitch believes the propensity of support is also driven by Bancomext
's clearly defined policy role and high relevance of its activities for the Mexican federal government's execution of its economic objectives.
, Banobras and SHF to A3, from B1, Moody's noted that these
ProMexico is taking over some of the responsibilities of Bancomext
, the Mexican Bank for Foreign Trade.
The San Diego companies current owner, Mexico's National Bank for Foreign Trade, or Bancomext
, was expected to sign the deal on Dec.
13, with the Mexican Government, through Bancomext
, signing an agreement to sell the operation to a group of investors based in Sonora, Mexico.
In 1996, the Secretaria del Medio Ambiente, Recursos Naturales, y Pesca (SEMARNAP), which operated Ocean Garden, transferred the company to the government's foreign-trade bank (Banco Nacional de Comercio Exterior, BANCOMEXT
The company is currently working with BANCOMEXT
, the national Mexican bank to foment exporters, to develop a training program and other services for local PYMES.