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Bulletin: Mexican Banks Ratings Unaffected By Upgrade Of United Mexican States Oct 07
Standard & Poors, Oct 2007
Abstract
MEXICO CITY (Standard & Poor's) Oct. 8, 2007--Standard & Poor's Ratings Services said today that the upgrade of the United Mexican States to 'BBB+' from 'BBB' will not affect the 'BBB+/Positive/A-2' counterparty credit ratings on BBVA Bancomer S.A., Banco Nacional de Mexico S.A. (Banamex), Banco Santander S.A., and HSBC Mexico S.A.; or the 'BBB/Positive/A-3' counterparty credit rating on Scotiabank Inverlat S.A. and the 'BBB-/Positive/A-3' counterparty credit rating on Banco Mercantil del Norte S.A. The positive outlook on these banks reflects growing macroeconomic stability, the banking system's increasing role in the economy, good growth prospects, greater credit demand, and the possibility for profitable expansion of operations. Nevertheless, market penetration into lower-income segments and strong competition pose some asset quality and profitability...
Companies mentioned in this report are: BBVA Bancomer S.A.,United Mexican States,Banco Nacional de Mexico S.A.,Banco Mercantil del Norte S.A.,HSBC Mexico S.A.,Scotiabank Inverlat, S.A.,Banco Santander S.A. (Mexico)
Action: Bulletin
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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