Research Update: Banco Nacional de México S.A. (Banamex) 'BBB/A-3' Global Scale, 'mxAAA/mxA-1+' National Scale Ratings Affirmed Jul 11
- ID: 2038568
- July 2011
- Region: Global
- Standard & Poors
A strong market position and an above-average financial profile, reflected in a good stand-alone creditworthiness, are Banamex's main strengths. We are affirming our ratings on Banamex, including the 'BBB/A-3' global scale and 'mxAAA/mxA-1+' national scale corporate credit ratings. We believe Banamex will keep its above-average financial profile, supported by a good internal generation capacity. On July 15, 2011, Standard & Poor's Ratings Services affirmed its ratings on Banco Nacional de México S.A. (Banamex), including the 'BBB/A-3' global scale and 'mxAAA/A-1+' national scale counterparty credit ratings. The outlook remained stable. The ratings on Banamex reflect its leading position in the Mexican banking industry, and its above-average financial profile supported by strong risk-adjusted capital (RAC) ratios, good liquidity, and improved asset quality....
Companies mentioned in this report are:
- Banco Nacional de Mexico S.A.
- Citibank N.A.
- Citigroup Inc.
- Citigroup Funding Inc.
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
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