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DBRS lowers Nacional Financiera ratings, aligning with Mexican sovereign

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DBRS lowers Nacional Financiera ratings, aligning with Mexican sovereign

DBRS on Nov. 29 lowered Nacional Financiera SNC's global scale long-term issuer and senior debt local currency ratings to BBB (high) from A (low), with a stable trend.

All of the bank's other ratings, including its support assessment of SA1, remain unchanged.

The rating agency recently downgraded Mexico's sovereign long-term local currency issuer rating to BBB (high) from A (low), reflecting an updating methodology on sovereign government ratings.

The latest action on Nacional Financiera, which is owned by the Mexican government, aligns the lender's ratings with those of the sovereign.