Moody's: Banobras issue Baa1

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.

Moody's also assigned a long-term Mexican national scale senior debt rating of Aaa.mx to these notes.

The outlook is stable.

The 12th issuance of certificados bursatiles bancarios will be for an amount of up to Ps. 6 billion, placed at a fixed-rate with a maturity of 10 years, the agency said.

The ratings are based on the bank's status as a government-related issuer in accordance with the agency's methodology, Moody's said, and the explicit support of the Mexican government through a guarantee covering all obligations.

The ratings also consider its modest franchise value given its limited-scope business profile as a result of its public policy role, the agency said.

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