S&P lifts Grupo Nacional view to positive

Standard & Poor's said it affirmed the BBB global scale and mxAA+ national scale financial strength and counterparty credit ratings on Grupo Nacional Provincial SAB.

The agency also said it revised the outlook on the company to positive from stable.

The outlook revision is based on an expectation that the company will continue to improve its operating performance in the next two years, said Jose Perez-Gorozpe, an S&P analyst.

Currently, the company's operating performance limits the company's business risk profile, as the insurer has consistently underperformed its peers and the Mexican insurance industry, Perez-Gorozpe said in a press release.

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