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.
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