Fitch ups three Mexican banks

Fitch Ratings has taken the rating actions detailed below on Mexican development banks, following the upgrade of Mexico's sovereign ratings. The upgrades reflect the explicit guarantee from the sovereign to support these banks' liabilities and overall operations in accordance with their organic laws, the agency said.

Fitch upgraded Banco Nacional de Comercio Exterior's long-term foreign currency debt rating to BBB from BBB- and long-term local currency debt rating to BBB+ from BBB. The F3 short-term foreign currency debt rating, F2 short-term local currency debt rating and 2 support rating were affirmed.

Fitch upgraded Banco Nacional de Obras y Servicios Publicos' long-term foreign currency debt rating to BBB from BBB- and long-term local currency debt rating to BBB+ from BBB. The F3 short-term foreign currency debt rating, F2 short-term local currency debt rating and 2 support rating were affirmed.

Fitch upgraded Nacional Financiera's long-term foreign currency debt rating to BBB from BBB- and long-term local currency debt rating to BBB+ from BBB. The F3 short-term foreign currency debt rating, F2 short-term local currency rating and 2 support rating were affirmed.

The outlook is stable.

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