Banorte Sub Debt on Negative Watch

Banorte Sub Debt on Negative Watch

Structured Finance

Moody's has placed under review for possible downgrade the Baa2 foreign currency debt rating of Banorte's deeply subordinated non-cumulative junior subordinated notes eligible for Tier-1 capital treatment, following a change to its rating methodology for this type of instruments. Other ratings assigned to the bank are not subject to the review. “The review on Banorte's subordinated notes follows Moody's initiative to review bank hybrids and subordinated debt on a global basis,” says th

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial