Mexico City, March 26th, 2020.

The current uncertainty in the world economy and the losses in the national stock market, generates concern about possible damage to the economy, derived from the pandemic caused by the virus COVID-19.

In recent days, the Mexican Stock Exchange (Bolsa Mexicana de Valores) ("BMV«) recorded losses that place it in its worst level since 2011.

The fall of the national economy has become a reality more than evident in these moments of economic volatility. Therefore, the Mexican stock market needs those issuers with securities registered in the National Securities Registry (Registro Nacional de Valores) ("RNV«) in one way or another, to issue facts or events that are relevant and that may generate some damage with respect to the quoted price of securities.

Similarly, issuers that are registered in the RNV must assess, within their annual report, the possible risk factors that relate to the effects that are already being generated or that could be generated due to the pandemic caused by the COVID-19.

To provide greater confidence to investors, issuers of securities should publish any existing or developing effects on the price or financial situation of the same, so that investors may have greater certainty about it.

Finally, given that it is not possible to predict the duration and/or impact that the COVID-19 pandemic is causing and will cause, it will be difficult for issuers to have the capacity to calculate and anticipate market fluctuations and their respective financial results. Therefore, issuers should be aware that they should not issue any information that implies the formation of a new «guidance«, as they are currently not prepared to estimate the economic impact that the current pandemic will have.


Lawyers of the banking and financial practice of our Firm will be delighted to provide you with further information regarding the content of this informative note.


Miguel Ángel Peralta                                 Pedro Said                                    Patrick S. Stockdale