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News Desk 2018
Posted On: 05/30/2014 11:45:08 AM
Post# of 617763
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Posted By: News Desk 2018
Grupo Financiero Banorte, S.A.B. De C.V. (GBOOY: OTCQX International Premier) | HR RATINGS RATIFIES LONG AND SHORT TERM BANORTES RATINGS AND BANORTE 12 SUBORDINATED DEBT

Grupo Financiero Banorte, S.A.B. de C.V. ("GFNORTE") (BMV: GFNORTEO) informs the investment public that today, HR Ratings ratified Banco Mercantil del Norte, S.A.'s (?Banorte?) HR AAA and HR+1 Long and Short term ratings, respectively, as well as BANORTE 12 Subordinated Debt with HR AA+. All the aforementioned have a stable outlook.

 

The main factors considered were: the solid financial position reflected in adequate levels of solvency, profitability, liquidity position, improvement in efficiency ratios and an adequate revenue generation from the loan portfolio, which they considered as well distributed in terms of geographic location and customers.

 

GFNORTE reiterates to the investment public that it expects to continue adopting the best international corporate practices regarding Corporate Governance and information disclosure. The Financial Group expects to maintain its strategic and expansion plans to consolidate a leading institution in Mexico; in this sense, we will timely inform the investment community regarding the strategy execution and evolution of our operations. The Finance and Investor Relations Department is available for any inquiry or comment regarding this material event at: investor@banorte.com or at the number (55) 52.68.16.80.

 


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