Moody's could cut 15 Mexican and Brazilian groups

Moody's Investors Service said it placed certain long- and short-term debt and deposit ratings of 15 Mexican and Brazilian banking and insurance groups on review for downgrade.

The following subsidiaries of European or U.S. financial institutions are on review: Deutsche Bank Mexico, SA; Bank of America Mexico, SA; Banco Credit Suisse Mexico, SA; Barclays Bank Mexico, SA; Banco Santander (Brasil) SA; Banco Citibank SA; and BES Investimento do Brasil SA HSBC Bank Brasil SA - Banco Multiplo.

The following financial institutions with standalone ratings above their sovereign are affected: Banco Bradesco SA; Itau Unibanco Holding (including banking and insurance subsidiaries); Banco do Brasil SA; Banco Votorantim SA; and Banco Safra SA.

The following subsidiaries of U.S. and European financial institutions with standalone ratings above their sovereign are affected: BBVA Bancomer SA and Banco Nacional de Mexico SA.

The announcement follows the review initiated on several European and U.S. banks on Feb. 15, as well as Moody's global assessment of linkages between financial institutions and sovereign credit risk.

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