Moody's rates Banobras debt Baa1/Aaa.mx

Moody's Investors Service said it assigned a Baa1 long-term global local currency senior debt rating to Banco Nacional de Obras y Servicios Publicos, SNC Institucion de Banca de Desarrollo's (Banobras) issuance of certificados bursatiles bancarios.

At the same time, Moody's de Mexico assigned a long-term Mexican national scale senior debt rating of Aaa.mx to the notes.

The outlook is stable.

Moody's said the debt ratings of Banobras are based on the bank's status as a government-related issuer, in accordance with Moody's rating methodology for government-related issuers, and on the explicit support of the Mexican government, which is Banobras's majority shareholder. According to the bank's Organic Law, the Mexican government fully and unconditionally responds to all obligations contracted by the bank.

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