“The downgrade review is triggered by the Citigroup Inc. announcement,” Moody’s explained. “The structure of the sale of its consumer banking operations in Mexico entails uncertainties, which are considered in this review.”
After the local subsidiaries of BBVA and Santander, Citibanamex is the third largest bank in Mexico.
Earlier this Sunday, the businessman Javier Garza Calderon confirmed its interest in buying Banamex. “I see a great opportunity to rescue its historical, cultural and financial assets so that they return to the hands of Mexican businessmen,” he said in a statement.