Fitch cuts Mexican government-related financials

Fitch Ratings said it downgraded the long-term issuer default ratings of various Mexican government-related financial institutions to BBB- from BBB. The rating outlook on the long-term IDRs is stable.

These rating actions mirror Fitch's action on Mexico's sovereign rating on April 15, Fitch said.

The institutions are Banco Nacional de Comercio Exterior(Bancomext), Banco Nacional de Obras y Servicios Publicos, SNC (Banobras), and Nacional Financiera, SNC (Nafin), Instituto del Fondo Nacional de la Vivienda para los Trabajadores (Infonavit) and Instituto para la Proteccion al Ahorro Bancario (IPAB).

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