Fitch revises Banorte view to stable

Fitch Ratings said it revised the outlook for Banco Mercantil del Norte SA (Banorte) to stable from negative, and affirmed the local- and foreign-currency long-term issuer default ratings at BBB-.

The stable outlook indicates Banorte's resilient and tested financial profile despite pandemic-driven headwinds and remaining pressures in the operating environment, such as the slow recovery in GDP and a challenging investment and business environment, the agency said in a press release.

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