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Fitch: BBVA Bancomer view to stable
Fitch Ratings said it affirmed BBVA Bancomer, SA’s viability rating at a- and long- and short-term foreign- and local-currency issuer default ratings at A-/F1.
The outlook on the long-term issuer default ratings was revised to stable from negative.
The agency also affirmed the long- and short-term national scale ratings of BBVA Bancomer, Casa de Bolsa BBVA Bancomer, SA de CV, Grupo Financiero BBVA Bancomer (CBBB) and Facileasing, SA de CV (Facileasing) at AAA(mex)/F1+(mex).
Fitch said BBVA Bancomer's viability rating and issuer default ratings are sensitive to changes in Mexico's sovereign rating on the down side. Therefore, the bank's outlook revision follows the Aug. 3, affirmation of Mexico's sovereign rating at BBB+ and revision of the outlook to stable from negative, the agency explained. The bank's outlook was as part of a peer review of major Mexican banks.
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