S&P: Banco Inbursa notes BBB+

Standard & Poor's said it assigned a BBB+ long-term issue-level rating to Banco Inbursa SA Institucion de Banca Multiple Grupo Financiero Inbursa's (Banco Inbursa) proposed senior unsecured notes for up to $1 billion.

The tenure of the notes will be seven- to 10 years and bear a fixed rate, S&P said.

The notes were rated the same as the long-term issuer rating on the bank, reflecting the pari passu ranking in right of payment with all of Banco Inbursa's senior unsecured debt obligations, the agency said.

The bank's funding and liquidity with the proposed notes is unchanged and viewed as average and its liquidity as adequate, S&P said.

On the other hand, demand deposits are highly diversified, the agency said.

The bank has successfully accessed the debt-capital markets through its senior unsecured notes, further diversifying its funding base, S&P said.

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