The credit risk rating agency Standard & Poor’s, commonly called only S&P, announced that it has withdrawn the rating from Banco del Bienestar since this financial entity of the Mexican federal government asked it to do so.
In a terse statement, S&P said it had removed from its list “the long and short-term issuer credit ratings on the national scale of Banco del Bienestar, Sociedad Nacional de Crédito, Institución de Banca de Desarrollo.”
And he added: “We withdraw the ratings at the request of the issuer.”
Finally, the S&P text says that the long-term rating outlook was “stable” when the exit occurred.
A few minutes later, Banco del Bienestar published on social networks that the contract it had with Standard & Poor’s (S&P) Global Ratings had ended and that it was not going to renew it.
For this reason, he asked the risk specialist consultant to withdraw the ratings.
The #BancoDelWellness reaffirms its commitment to continue with the good financial performance it has shown so far and to consolidate itself as #ElBancoDeLosMexicanos. 🇲🇽
👉 https://t.co/LHzJYp7PS9 pic.twitter.com/MlDYZppN8t
– Wellness Bank (@bbienestarmx) January 12, 2022
The bank also clarified that by the norms corresponding to the institutions related to credit by regulation of the National Banking and Securities Commission, the Banco del Bienestar will continue to be registered in the rating of other prestigious international rating agencies so that they can provide their credit rating service. short and long term credit.
In a statement on social networks, the official entity said that it reaffirms its “commitment to continue with the good financial performance that it has shown so far and to consolidate itself as the Banco de los Mexicanos.”
Last week, President Andrés Manuel López Obrador said that some 300 new branches of the Banco del Bienestar were to be inaugurated in the coming days. Of that total, 10 will be inaugurated by AMLO himself, as he said.
He also assured that the second function of the Banco del Bienestar will be the dispersion of remittances that Mexicans abroad transfer to their families and that it will be a free service.
A few days before, in December 2021, AMLO announced that Víctor Manuel Lamoyi Bocanegra will be the new head of the Banco del Bienestar.