Moody’s rates BBVA Bancomer notes A2/Aaa.mx

Moody's de Mexico said it assigned an A2 long term global local currency senior debt rating to BBVA Bancomer, SA's issuance of certificados bursatiles bancarios.

At the same time, the agency assigned a long-term Mexican national scale senior debt rating of Aaa.mx to these notes.

The outlook is stable.

The issue will be for an amount of up to Ps. 5 billion. These three-year floating notes represent the eighth issuance under BBVA Bancomer's senior debt program established for up to Ps. 60 billion.

Moody’s said the A2 global local currency rating benefits from two notches of uplift from the baa1 standalone baseline credit assessment due to systemic support assumptions given the bank's systemic importance in Mexico as a deposit-taker and lender.

The A2 global local currency rating maps to an Aaa.mx rating on Mexico's national scale.

The notes issued under BBVA Bancomer's senior debt program rank pari passu with the bank's other senior obligations.

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