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Fitch assigns ratings to Banobras

Bnamericas Published: Wednesday, June 25, 2003
International rating agency Fitch Ratings (Fitch) has assigned the following ratings to Mexican development bank Banco Nacional de Obras y Servicios Publicos (Banobras): long-term foreign currency BBB- (stable outlook), short-term foreign currency F3, long-term local currency BBB, short-term local currency F2 and support 2, Fitch said in a statement. Fitch also assigns an AAA long-term national rating, and an F1+ short-term national rating. The ratings reflect the strength of support the bank receives from the government, as well as its importance as a bank focused toward the development of the country. Banobras was founded in 1933 and is one of Mexico's national credit agencies whose main activities are to promote and fund infrastructure, public services and regional development projects entered into by the federal, state and municipal governments as well as state-owned companies. To read the full statement, click to: http://www.bnamericas.com/rc_search_detail.xsql?id_documento=35434&Tx_idioma=E

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