Moody's gives Prudential Bank Mexico E+

Moody's Investors Service said it assigned a bank financial strength rating of E+ to Prudential Bank, SA (Prudential Bank Mexico).

At the same time, Moody's said it assigned long- and short-term global local currency deposit ratings of Ba2/Not Prime, respectively.

The bank was also assigned foreign currency deposit ratings of Ba2/Not Prime, Moody's said, noting that it also assigned long- and short-term Mexican national-scale ratings of A2.mx / MX-2, respectively, to Prudential Bank Mexico.

The ratings have stable outlooks.

According to Moody's, the BFSR of E+ reflects the bank's very short track-record, which is reflected in current operational losses and the resulting challenges of generating sustainable earnings within its defined niche strategy.

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