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S&P maintains Deutsche Bank México on CreditWatch negative


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S&P maintains Deutsche Bank México on CreditWatch negative

S&P Global Ratings on April 3 maintained Deutsche Bank México SA Institución de Banca Múltiple and its brokerage unit, Deutsche Securities SA de CV Casa de Bolsa on CreditWatch negative.

The ratings included in the special review are the bank's mxBBB+ long- and mxA-2 short-term national scale ratings. The ratings were put on CreditWatch negative in February.

The ratings action followed a similar action on Investa Bank SA Institución de Banca Múltiple, who reached an agreement to acquire both of the Deutsche Mexican units in October 2016.

According to the rating agency, both the companies have a very weak business position, reflecting its decreased presence in Mexico.

S&P said that it expects the bank's risk-adjusted capital ratio to be around 21% in the next 12-18 months.

The rating agency also noted that the risk position of both companies is "adequate" due to low risk exposure, with adequate liquidity but with lower funding when compared to its peers.

S&P said that it expects to resolve the CreditWatch within the next 90 days, once the deal is approved by Mexican authorities.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.