Multirate simulation of electric networks exhibiting a wide variety of time constants decreases the simulation runtimes by exploiting the property of circuit latency. The fundamental idea is to use different integration steps for different network subsystems, according to the requirements of accuracy of each subsystem. Programs that exploit circuit latency are usually based on relaxation methods that require iterations among the different subsystems of the original networks. These methods lack the numerical robustness of direct implicit integration methods used in circuit simulators and are not adequate for real-time simulation due to their non-uniform solution times. This paper proposes circuit latency exploitation without iterations making use of the concept of interlinked Multi-Area Thevenin Equivalents (MATE). Results are presented showing the efficiency and accuracy of the method.