Moody’s gives A3 to Nafin debt

Moody's Investors Service said it assigned an A3 long-term foreign currency senior debt rating to Nacional Financiera, SNC, Institucion de Banca de Desarrollo's (Nafin) senior unsecured debt issuance for an initial amount of $500 million with a maturity of up to 10 years.

The outlook is stable.

Moody’s said the A3 senior debt rating is aligned to the bank's foreign currency issuer rating of A3. The issuer rating reflects the very high likelihood that the Mexican government (A3, stable) will provide extraordinary financial support to the institution if it finds itself facing financial stress, which provides four notches of uplift from Nafin's ba1 standalone baseline credit assessment.

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