Grupo Financiero Banorte, S.A.B. De C.V. (GBOOY: OTCQX International Premier) | Moody´s review Banorte’s ratings

OTC

Moody´s review Banorte’s ratings

Jun 29, 2016

OTC Disclosure News Service

Monterrey, Mexico

Grupo
Financiero Banorte S.A.B. de C.V. (“GFNORTE”)
informs to
the investment public that Moody´s revised different ratings for
Banco Mercantil del Norte, S.A., Institución de Banca Múltiple, Grupo
Financiero Banorte (“Banorte”)
and Arrendadora y Factor Banorte, S.A. de C.V.
(“Arrendadora y Factor Banorte”).

 

The rating action was due to the confirmation of some ratings and the
change in others (detailed list below) as a result of the decreased of the BCA,
reflecting the change in the Mexican macroeconomic environment and similarly
affecting other banks’ ratings.

 

  • Confirmed ratings for Banorte:

 

International

 

         
Long term local currency
deposits rating of A3; negative outlook.

         
Long-term foreign currency
deposits rating of A3; negative outlook.

         
Long-term counterparty risk
assessment of A2 (cr).

         
Short-term counterparty risk
assessment of Prime-1 (cr).

 

Domestic

 

         
National Scale – Long term
deposits rating of Aaa.mx

 

  • Confirmed ratings for Banorte Cayman:

 

         
Long-term counterparty risk
assessment of A2 (cr).

         
Short-term counterparty risk
assessment of Prime-1 (cr).

         
Negative outlook.

 

The
tables below show modified ratings:

 [SEE TABLES IN THE ATTACHED FILE]

 

 

 

GFNORTE reiterates to the investment public that it expects to continue
adopting the best international corporate practices regarding Corporate
Governance and information disclosure. The Investor Relations and Financial
Intelligence Department is available for any inquiry or comment regarding this
material event at:
investor@banorte.com
or at the number (55) 1670-2256.

This release includes additional documents. Select the link(s) below to view.

Material Event-Moodys – June 29 2016.pdf

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