Moody's rates BBVA Bancomer notes A2

Moody's Investors Service said it assigned an A2 long-term foreign-currency subordinated debt rating to BBVA Bancomer, SA's long-term foreign-currency tier 2 cumulative subordinated preferred, 10-year notes issued through the bank's Texas agency.

The rating is primarily underpinned by the ratings assigned to the bank, Moody's said.

Key features of the notes affecting the rating are the 10-year maturity, cumulative coupon skip mechanism and subordination in liquidation, the agency said.

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