Moody's rates (P)Ba1 (hyb) GF Santander's proposed cross border hybrid capital notes
New York, December 22, 2016-- Moody's Investors Service has today assigned a Ba1 foreign currency junior subordinated debt rating to the proposed perpetual non-cumulative capital notes with principal conversion to be issued by Grupo Financiero Santander México, S.A.B. de C.V.. The Contingent Convertible Capital Notes will have no stated maturity and will be issued for an aggregate amount of up to USD500 million, in the domestic and international markets.
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