Grupo Nacional Provincial S.A.B. #BBB+# Global Scale And #mxAAA# National Scale Ratings Affirmed, Outlook Remains Stable

Stocks and Financial Services Press Releases Tuesday January 23, 2018 09:22
MEXICO CITY--23 Jan--S&P Global Ratings

MEXICO CITY (S&P Global Ratings) Jan. 22, 2018--S&P Global Ratings affirmed its 'BBB+' global scale and 'mxAAA' national scale financial strength and counterparty credit ratings on Grupo Nacional Provincial S.A.B. (GNP). The outlook on both ratings remains stable.

In our opinion, GNP's strong business risk profile continues to support the ratings. The company's large market presence and leading position in Mexico, combined with sound product diversification and its solid brand, support its strong competitive position. Moreover, the company reported strong operating income in 2016 and for the first nine months of 2017, which further supports our view of the business risk profile. On the other hand, GNP's capital adequacy, according to S&P's risk-based capital model for insurers, remains adequate but on the lower end of the spectrum. This is because it stands about 14% below our benchmark for our 'BBB' rating category, which is close to the threshold for a weaker assessment of GNP's financial risk profile. However, our expectation for solid internal capital generation through earnings provides some level of comfort on the stability of the company's capital base in the next two years.


Latest Press Release

TMB reported 2018 net profit of THB11,601 mn, 34% increase from last year. Coverage ratio was raised to 152% in preparation for IFRS 9 implementation, reflecting the Banks prudent management.

TMB reported 2018 net profit of THB11,601 mn, 34% increase from last year. Coverage ratio was raised to 152% in preparation for IFRS 9 implementation, reflecting the Bank's prudent management. Moving toward 2019, the Bank will continue to further acquire...

TBank#s New CEO committed to challenging 2019 targets against backdrop of average annual profit growth of 10% over past 4 years

Praphan Anupongongarch, formerly chief of auto hire-purchase business, now takes the helm of Thanachart Bank as new CEO. Having introduced his strong management team and adopted both Customer-Centric and Fast & Focused Policies, he aims at...

Finansia Syrus Securities to hold Finansia Investment Conference 2019 Featuring local institutional investor team to enhance its integrated services

Finansia Syrus Public Company Limited joins hands with Finansa Public Company Limited to hold flagship event "Finansia Investment Conference 2019", the first grand meeting of the local institutional investors and more than 40 leading listed companies....

SET joins hands with MSCI to promote sustainable investment

The Stock Exchange of Thailand (SET) has joined MSCI Inc. in organizing "Thailand Sustainable Investment" - an exclusive seminar for executives of listed companies, securities companies and asset management companies as a boost to capitalize on...

mai welcomes construction service provider CAZ on January 22

Market for Alternative Investment (mai) will list CAZ (Thailand) pcl, a construction service provider for oil, gas and petroleum industries, on January 22, under the ticker symbol "CAZ". The company has a market capitalization at its initial public...

Related Topics