S&P rates Banobras A-2

Standard & Poor's said it assigned an A-2 short-term global scale foreign-currency rating to Banco Nacional de Obras y Servicios Publicos SNC (Banobras).

The agency also affirmed its BBB long-term global scale and mxAAA/mxA-1+ national scale ratings.

The outlook is stable.

The ratings reflect the bank's adequate business position, adequate risk position, strong capital and earnings, adequate liquidity and average funding, S&P said.

The bank's stand-alone credit profile is BBB+, the agency said.

As a government-related entity, the ratings on Banobras also reflect an almost certain likelihood of extraordinary government support to the bank, given its critical role in the government's public policies and integral link to the Mexican government, S&P said.

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