S&P Global Ratings on March 6 affirmed its BB- long-term global scale issuer credit rating on Consubanco SA Institución de Banca Múltiple and then withdrew the rating at the issuer's request.
The Mexican lender's national scale ratings remain unchanged at mxBBB+/mxA-2.
S&P last affirmed the bank's ratings in December 2017, while removing them from CreditWatch with negative implications due to the company's successful implementation of a liquidity plan and the resulting reduction in refinancing risk and liquidity pressure.
The rating agency noted at that time, however, that the bank had failed to improve its asset quality metrics as expected.
In withdrawing the global scale rating, S&P added that "the bank remains committed to taking additional steps that we expect will provide it with additional liquidity and growth prospects." The outlook was stable at the time of withdrawal.
S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.
