Moody’s rates Aaa.mx BBVA Mexico notes

Moody’s Investors Service said it assigned long-term senior unsecured debt ratings of Aaa.mx in the Mexican national scale and A3 in the global scale to BBVA Bancomer, SA, Institucion de Banca Multiple, Grupo Financiero BBVA Bancomer’s three proposed issuances of certificados bursatiles bancarios (cebures). Bacomer 20 and Bacomer 20D will have a maturity equivalent to about three years and Bacomer 20-2 will have a maturity of equivalent to about five years. Bacomer 20 and Bacomer 20-2 will be denominated in Mexican pesos and Bacomer 20D will be denominated in dollars. The combined amount of these three cebures will be up to Ps. 15 billion.

BBVA’s A3 and Aaa.mx senior debt ratings reflect the bank’s strong earnings, which result from its diversified loan portfolio and leading market shares in many asset classes and banking products that have cemented its position as the most profitable large bank in Mexico, Moody’s said.

The ratings also incorporate its high capitalization, despite consistently high dividend payouts and improvements in its asset quality. The strength of the bank’s risk management over time is illustrated by a well-diversified loan portfolio and industry exposures, which have and should continue to limit the volatility in its asset-quality indicators.

The outlook on the global scale is negative.

© 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.