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BBVA Bancomer S.A. Dec 08
Standard & Poors, Dec 2008
Abstract
Strong market position Adequate stand-alone creditworthiness Good financial performance over the past three years Lending risks in the Mexican banking sector A tough competitive environment Increasing loans to deposits The ratings on Mexico-based BBVA Bancomer S.A. reflect the bank's own merits and not the assumption of extraordinary potential parent support in a crisis. They are based on the company's stand-alone creditworthiness, notably its good recurrent profitability, strong market position, adequate asset quality, and good financial performance over the past three years. The ratings are balanced by country risk factors in the Mexican operating environment, such as lending risks in a less favorable economic environment, a relatively weak payment culture, strong competition, and an increasing need to use alternative funding sources...
Companies mentioned in this report are: BBVA Bancomer S.A.,Banco Bilbao Vizcaya Argentaria S.A.,Hipotecaria Nacional S.A. de C.V. S.F.O.L
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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