S&P affirms Scotiabank Inverlat

S&P said it affirmed its BBB+ long-term and A-2 short-term global scale ratings on Scotiabank Inverlat SA.

The agency also affirmed the mxAAA/mxA-1+ long- and short-term national scale ratings and the mxAAA issue-level rating on the bank's senior unsecured debt.

The outlook is stable.

The agency also affirmed the mxAAA/mxA-1+ long- and short-term national scale issuer credit ratings on Scotia Inverlat Casa de Bolsa SA de CV.

S&P said Scotiabank has continued to improve its market share and business diversification, despite stiff competition in the Mexican banking system.

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