Fitch Takes Rating Actions on Mexican Midsized Banks Following Peer Review

Following its peer review of the Mexican Midsized banks, Fitch Ratings has upgraded the ratings for the following Midsized Banks:

Banca Mifel S.A.

--Long-term foreign and local currency Issuer Default Ratings (IDRs) to 'BB' from 'BB-'; Outlook Stable;

--Viability rating to 'bb' from 'bb-';

--National-scale long-term rating to 'A(mex)' from 'A-(mex)'; Outlook Stable;

--National-scale short-term rating to 'F1(mex) from 'F2(mex)'.

--Long-term cumulative subordinated preferred notes to 'B+' from 'B'.

Bansi, S.A.

--National-scale long-term rating to 'A(mex)' from 'A-(mex)'; Outlook Stable;

--National-scale short-term rating to 'F1(mex) from 'F2(mex)'.

Banco Multiva, S.A.

--National-scale long-term rating to 'A(mex)' from 'A-(mex)'; Outlook Stable;

--National-scale short-term rating to 'F1(mex) from 'F2(mex)';

--Long-term senior unsecured debt to 'A(mex)' from 'A-(mex)'.

Also, Fitch has affirmed rating to the following financial Institution:

Banca Mifel S.A.

--Short-term foreign and local currency IDRs at 'B';

--Support rating at '5';

--Support rating floor at 'NF'.

Banco Invex, S.A.

--National-scale long-term rating at 'A+(mex)'; Outlook Stable;

--National-scale short-term rating at 'F1(mex)'.

Banca Afirme, S.A.

--National-scale long-term rating at 'A-(mex)'; Outlook Stable;

--National-scale short-term rating at 'F2(mex)'.

-- Long-term subordinated notes at 'BB+(mex)'

Fitch has published individual press releases for each of these banks that are available on www.fitchratings.com and www.fitchcentroamerica.com. These press releases include each issuer's key rating drivers and sensitivities, as well as the list of all rating actions taken.

Additional information is available on www.fitchratings.com

Applicable Criteria and Related Research:

-- 'Global Bank Rating Criteria' (March 20, 2015).

Applicable Criteria

Global Bank Rating Criteria [863501 - 20-MAR-2015] (pub. 20 Mar 2015)

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=863501

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