Fitch rates BBVA Bancomer notes BB+

Fitch Ratings said it assigned an expected BB+ rating to BBVA Bancomer SA’s proposed benchmark-sized sale of Basel III-compliant tier 2 subordinated preferred capital notes.

The rating is three notches below the bank’s rating with one notch taken for loss severity plus two notches for non-performance risk, Fitch said.

The rating is also highly influenced by Mexico’s operating environment, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.