Moody’s Downgrades Banamex

Moody’s Downgrades Banamex

Moody’s has chopped the long term global currency deposit rating to Aa3 from Aa2, but affirmed the prime-1 short term local currency rating and the C+ bank financial strength rating. The outlook is stable. Moody's says that the lowering of Banamex's GLC deposit rating reflects the downgrade of parent Citi’s financial strength rating to C from B and its baseline credit assessment to A3 from Aa3. Moody’s also says that the currency ratings remain constrained by the Mexican country ceiling for

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