During June, Italy’s MicroFinanza Rating (MFR) issued four microfinance institutional ratings. Ecuador’s Insotec earned a rating of BBB with a stable outlook. Three institutions earned ratings of BB+: VisionFund Honduras, whose outlook is deemed stable; Fundacion Pro Mujer Argentina, with a positive outlook; and El Salvador’s PADECOMSMCREDITO, which was formerly known as Patronato para el Desarrollo de las Comunidades de Morazán y San Miguel and whose outlook remains “under observation.”
VisionFund Honduras, which also earned a social rating of BB, is an affiliate of VisionFund International, which has principal offices in the UK and the US. Fundacion Pro Mujer Argentina is an affiliate of the US-based Pro Mujer International.
Under license from the Smart Campaign of US-based Accion’s Center for Financial Inclusion, MFR also certified the client protection efforts of FINCA Nicaragua, Tajikistan’s Imon International and Indonesia’s Komida.
FINCA Nicaragua is an affiliate of the US-based Foundation for International Community Assistance (FINCA International).
By The MicroCapital Team
Sources and Additional Resources
Information provided directly to MicroCapital by Microfinanza Rating [http://www.microfinanzarating.com].
Fundacion Pro Mujer Argentina:
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