Fitch rates Santander Mexico notes BBB+

Fitch Ratings said it assigned Banco Santander Mexico, SA Institucion de Banca Multiple (SAN Mexico)'s proposed dollar-denominated senior unsecured notes an expected BBB+ rating. The notes for an amount and maturity date have yet to be determined.

“The rating of the senior global debt is at the same level as SAN Mexico's long-term issuer default rating of BBB+/negative, as the likelihood of default of the notes is the same as the one of SAN Mexico,” said Fitch in a press release.

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