Research Update: Scotiabank Inverlat S.A. 'BBB/A-3' Counterparty Credit Ratings Affirmed; Outlook Stable Jun 10
Standard & Poors, June 2010
Abstract
Scotiabank's good diversification and above-average financial profile support the ratings. We are affirming our 'BBB/A-3' global and 'mxAAA/A-1+' national scale counterparty credit ratings on Scotiabank. The outlook is stable. We expect the bank will maintain its adequate financial profile in 2010. On June 15, 2010, Standard & Poor's Ratings Services affirmed its 'BBB/A-3' counterparty credit and certificate of deposit ratings on Scotiabank Inverlat S.A. (Scotiabank). We also affirmed our 'mxAAA/A-1+' national scale counterparty credit and senior unsecured debt ratings on Scotiabank. The outlook is stable. The ratings on Scotiabank reflect its good business profile, supported by its well-diversified loan portfolio and its strong presence in the retail segment. Also, its adequate financial profile and its status as a strategically important...
Companies mentioned in this report are: Scotiabank Inverlat, S.A.,The Bank of Nova Scotia
Action: Affirmed
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
Scotiabank Inverlat, S.A.,The Bank of Nova Scotia
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