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BBVA Bancomer S.A. Jun 09
Standard & Poors, June 2009
Abstract
Strong market position Adequate stand-alone creditworthiness Good financial performance over the past three year High lending risk levels in the Mexican banking sector Increasing loan-to-deposit ratio Pressures on adjusted capitalization Standard & Poor's Ratings Services' ratings on BBVA Bancomer S.A. reflect the bank's adequate stand-alone creditworthiness, notably its strong market position, its good recurrent profitability, and its good financial performance over the past three years. The ratings also reflect the strategic importance of BBVA Bancomer to its parent, Banco Bilbao Vizcaya Argentaria S.A. (BBVA). Negative ratings factors include the less favorable economic environment and increasing credit risks in the Mexican banking sector, along with an increasing loan-to-deposit ratio and adjusted capitalization levels that are lower than peers. BBVA Bancomer benefits...
Companies mentioned in this report are: BBVA Bancomer S.A.,Wal-Mart Stores Inc.,United Mexican States,Banco Nacional de Mexico S.A.,Hipotecaria Nacional S.A. de C.V.,Banco Bilbao Vizcaya Argentaria S.A.
Action: Review
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: Full Analysis
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