Grupo Financiero Banorte and its subsidiaries hold debt issuances in the markets; therefore they are subject to coverage and analysis from four different rating agencies.
Rating Agencies Scales Standard & Poors Long term Short term Outlook Banco Mercantil del Norte Counterparty credit - Long term foreign currency BBB A-2 Stable Counterparty credit - Long term local currency BBB A-2 Stable National Scale - Counterparty credit mxAAA mxA-1+ Stable Casa de Bolsa National Scale - Counterparty credit mxAAA mxA-1+ Stable Fitch Ratings Long term Short term Outlook Grupo Financiero Banorte Foreign Currency (IDR´S) BBB- F3 Stable Banco Mercantil del Norte National Scale - Counterparty credit AAA(mex) F1+(mex) Stable Casa de Bolsa Banorte National Scale AAA(mex) F1+(mex) Stable Arrendadora y Factor National Scale Counterparty AAA(mex) F1+(mex) Stable Pensiones Banorte National Scale AAA(mex) Stable Seguros Banorte Financial Strength AAA(mex) Stable Recuperador de Activos (Banorte RA) RMBS Special Servicer AAFC1(mex) Stable Moody's Long term Short term Outlook Banco Mercantil del Norte Baseline Credit Assessment baa2 - Local currency deposits* Baa2 P2 Negative Foreign currency deposits Baa2 P2 Negative Adjusted Baseline Credit Assessment baa2 - Counterparty risk assesment Baa1 (cr) Prime-2 (cr) - National Scale - deposits AAA.mx ML A-1 Negative HR Ratings Long term Short term Outlook Banco Mercantil del Norte Issuer rating HR AAA HR + 1 Stable Arrendadora y Factor Issuer rating HR AAA HR + 1 Stable
