Fitch revises BBVA Bancomer view to positive

Fitch Ratings said it affirmed BBVA Bancomer SA's viability rating at a-; its long-term foreign- and local-currency issuer default ratings at A-; and its short-term foreign- and local-currency issuer default ratings at F1.

The long- and short-term national scale ratings for BBVA Bancomer and those of its affiliates Casa de Bolsa BBVA Bancomer, SA de CV, Grupo Financiero BBVA Bancomer and Facileasing, SA de CV were affirmed at AAA(mex) and F1+(mex), respectively.

The outlook of BBVA Bancomer's long-term issuer default ratings was revised to positive from stable.

BBVA Bancomer's Support Rating was affirmed at 2 and its support rating floor at BBB-. The bank's global issuance of junior subordinated debt was affirmed at BB+ and its foreign and local issuances of subordinated debt at BBB- and AA-(mex), respectively.

Fitch said the positive outlook reflects the gradual improvements in core capital metrics, which its believes will continue, coupled with the structural strengths of the bank, and its moderately improved asset quality, with a gradually decreasing impairment ratio.

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