Moody's: Banco Santander (Mexico) unchanged

Moody's Investors Service said the reopening of Banco Santander (Mexico) SA Institucion de Banca Multiple Grupo Financiero Santander's (Banco Santander México) fifth issuance of certificados bursátiles bancarios has had no effect on its Aaa.mx long-term senior unsecured Mexican national scale debt ratings and A3 global scale ratings.

The reopening is for an additional Ps.1.5 billion with a maturity of four years.

The outlook remains stable.

The ratings consider the improvements in Banco Santander México's capital and profitability, Moody's said, as well as its stable asset quality.

The ratings also reflect an assessment of a very high willingness from the government to support Banco Santander México to assure banking system stability and investor confidence, the agency said.

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