NY -- Standard&Poor's CreditWire 2/20/96 -- Standard&Poor's affirms its ratings on Bank of Montreal's outstanding long- and short-term debt and the ratings of its U.S. subsidiary, Harris Bankcorp Inc. (see list below) The long-term rating outlooks remain stable. This affirmation follows the Feb. 15, 1996 letter of intent by Bank of Montreal (BMO) to acquire a 16% equity interest in Grupo Financiero Bancomer (GFB), the second-largest bank in Mexico. The Bank of Montreal management sees this investment as a natural extension of its North American banking investment with its strong Canadian presence, bridged by its extensive U.S. operations centered in the Harris Bank. Standard&Poor's believes that the Mexican banking system remains weak, characterized by
